Research

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

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December 2019 | Stainless Steels


US stainless prices continue to be a mixed story: American Highlights


It is not a surprise to see nickel price correct given that the noise about the Indonesian export ban was already baked into the equation and demand in China, where they had been stockpiling nickel pig iron, has softened.

US austenitic stainless prices continue to tumble, following nickel downward
While nickel prices have started to stabilize, or even move up slightly, over the past week or so, the downward plunge that began early in November has continued through December, falling approximately 12% month on month. This will push January surcharges for US austenitic stainless steel grades, and therefore transaction prices, down yet again, given that it is unlikely that domestic mills will try to hike base prices, which have held steady throughout 2019, anytime soon. Fastmarkets estimates that the surcharges for grade 304 stainless will see a $0.09/lb. month on month decline to $0.6057/lb. – a 12.9% decline from the $0.6957/lb. surcharge in December.

It is not a surprise to see nickel price correct given that the noise about the Indonesian export ban was already baked into the equation and demand in...

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