As Chinese 304 and 316 stainless price continue to stand still on our index, ATI Allegheny Ludlum has announced “a two-part base price increase on several of its stainless steel products, similar to recent announcements from two of its peers,” according to AMM.
“The company in a letter to customers said that ‘Effective with shipments beginning on August 1st 2013, ATI Allegheny Ludlum is increasing base selling prices for all 200 series grades, 300-series grades, and ATI 430 cold rolled sheet and strip, hot-roll and cold-rolled tubular quality sheet and strip and Precision Rolled Strip products.'”
In terms of stainless inputs, on Thursday, August 1, the day’s biggest mover on our index was the price of Chinese primary nickel, which saw a 1.2 percent increase. This increase comes after the price fell for the two previous days.
The price of Chinese ferro-chrome remained essentially flat, and Chinese ferro-moly continues hovering in place for the fifth day in a row.
After falling for two days, the nickel 3-month price rose 1.1 percent on the LME to $13,645 per metric ton. Following a 1.0 percent rise yesterday, the nickel spot price closed on the LME at $13,565 per metric ton.
The cash price of primary Indian nickel finished the market day up 0.8 percent per kilogram.