August 2018 | Stainless Steels
US stainless prices pushed down by falling alloy surcharges: American Highlights
Surcharges for ferritic stainless grades, which don’t contain nickel, are also down in September due to a 2.4% month on month decline in iron prices.
Surcharges to fall for second consecutive month with further declines possible
US stainless steel surcharges will be falling for the second consecutive month in September with nickel prices following those for other base metal prices downward. Partly due to a stronger US dollar, LME nickel prices fell 4.7% over the past month, although they have inched up slightly over the past week or so. As result, the September US alloy surcharge for grade 304 stainless is down 4.1% from August levels to an average of $0.7283/lb. and surcharges for grade 201 stainless were down 2.4% to $0.5389/lb. Raw materials surcharges for grade 316 stainless, while still down, only declined 0.7% month on month to $1.0199/lb. with an 11.8% rise in molybdenum prices countering the decline in nickel prices.
Surcharges for ferritic stainless grades, which don’t contain nickel, are also...
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