September 2018 | Stainless Steels
US stainless prices to fall further in October despite steady demand: American Highlights
On the back of declines in alloy surcharges, particularly lower nickel costs, US transaction prices fell across the board in September.
Surcharge drop continues to move transaction prices down
US stainless transaction prices continue to be weighed down by declining raw material costs. This comes as spot base prices continue to be unchanged and are likely to remain flat, at least for the next month or two unless there is a big change in either supply or demand dynamics. But MBR doesn’t believe that is likely, at least not in the short term. With domestic lead times very short – four to six weeks – we doubt that US mills will try to hike their base prices until either very late this year or, even more likely, until the first quarter of 2019.
On the back of declines in alloy surcharges, particularly lower nickel costs, US transaction prices fell across the board in September. The larger surcharge declines were for austenitic grades with grade 304 cold rolled sheet surcharges...
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