North American Stainless Holds Fuel Surcharge, Nickel Prices Drop

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North American Stainless says their July fuel surcharge is not movin’.

According to the NAS site, “For the month of July 2013, North American Stainless will maintain the fuel surcharge at 33% for stainless flat and long products. The surcharge rate is considered a maximum level for July and will be reviewed monthly.”

Globally, Chinese 304 and 316 stainless steel coil and scrap prices did not move on MetalMiner’s price index either, but nickel did.

Don’t forget to see June 2013 MMI price trends before July’s report comes out tomorrow!

The Indian nickel cash price fell 1.6 percent on Friday, July 5, making it the day’s biggest mover. The spot price of nickel weakened by 0.8 percent on the LME, settling at $13,685 per metric ton. On the LME, the nickel 3-month price fell 0.6 percent to $13,775 per metric ton.

The price of Chinese primary nickel showed little movement last Friday. The price of Chinese ferro-chrome continues hovering in place for the fifth day in a row. For the fifth consecutive day, the price of Chinese ferro-moly held flat.