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

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November 2018 | Stainless Steels

US stainless prices largely flat in still-uncertain market: American Highlights

With the continued uncertainty about the future it appears that some companies have taken their foot off the pedal slightly when placing new stainless steel orders, trying to keep their inventories lean, especially as year end approaches.

Surcharges, transaction prices to stabilize in November
With the nickel spot market being fairly calm – falling only 0.3% over the past month – and chrome not resetting again until January, we believe US surcharges for austenitic stainless grades will remain fairly flat at least through the rest of this year. This general stabilization of US surcharges follows an across the board decline in October including a 5.6% decline in nickel and a 10.1% decline in chrome surcharges.

As result, November surcharges for grade 304 stainless will only inch down 0.2% month on month to an average of $0.6553/lb. after falling 9.6% in October. On the other hand, surcharges for grade 201 stainless are edging up 0.3% to $0.4868/lb. in November after falling 9.4% in October. With molybdenum prices falling 1.5% month on month, surcharges for grade 316 are coming down 0.8% to $0.9348/lb. month on month...


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