Forecasts and market analysis based on price assessments from Fastmarkets MB and Fastmarkets AMM

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February 2018 | Stainless Steels

US stainless steel prices to continue rising in March: American Highlights

Based on the Commerce Department report, which Trump has until April 11 to act upon, stainless steel will likely be included in the steel Section 232, especially if the president decides to take broad-based action.

Surcharges continue up on nickel-containing stainless
US stainless steel transaction prices will continue to push upwards in March with increases in both nickel and molybdenum boosting alloy surcharges for austenitic grades. Nickel prices have jumped up 8% over the past month and could continue to move up, along with other base and minor metals, this year, helped along by optimism about future demand for its increased use in electric vehicle battery technologies being developed. While this could be premature, given that the true push for electric and hybrid vehicles is still several years away, it has resulted in increased speculator interest. At the same time, increased global demand continues to bolster molybdenum prices, which moved up 10.4% over the past month.

As a result, US surcharges for austenitic stainless steel are moving up again in March, with the biggest rise – an average of 9.5% to 94.61 cents/lb. –...


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