Stainless alloy surcharges are going the daily route for Finland’s stainless steel producer.
Via Reuters: “Outokumpu is proposing to price alloys in its stainless steel products on a daily rather than monthly basis to reflect cost volatility and to limit speculation over the materials which form most of the price of the high-end steel.”
The company’s CEO said the daily surcharge option is well-tested in the aluminum industry, among others. “The monthly alloy surcharge is calculated using a formula based on the average price of nickel and of other alloys present in stainless steel, for the month before the booking,” according to the article.
Current Nickel, Alloy and Stainless Prices:
On Wednesday, May 22, the Indian nickel cash price experienced the biggest change, rising 1.8 percent.
After a 1.3 percent increase, the 3-month price of nickel finished the day on the LME at $15,100 per metric ton. At $15,030, the nickel spot price finished the market day on the LME up 1.2 percent per metric ton.
Chinese stainless steel prices were mixed for the day. The price of Chinese ferro-chrome was unchanged. The price of Chinese ferro-moly remained essentially flat.
For the fifth consecutive day, the prices of Chinese 304 and 316 stainless coil and scrap held flat.