ATI Delaying Stainless Price Hike Again, Surcharge Jumps

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Allegheny Technologies, Inc., is again delaying a price increase for its stainless steel products. The company previously said it would increase prices for its stainless cold-rolled, tubular quality sheet and strip, and precision-rolled products for 200-series, 300-series and type 430 grades on September 15th.

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The company, today, pushed that increase back to September 29 after North American Stainless announced its own price increase on October 1.

The price of Chinese ferro-chrome held steady at CNY 8,300 ($1,349) per metric ton. The price of Chinese ferro-moly remained essentially flat at CNY 145,000 ($23,563) per metric ton.

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After holding steady for the past few days, the Allegheny Ludlum 316 stainless surcharge fell 1.4 percent, closing at $1.26 per pound. The price of Chinese 316 stainless coil continues hovering around CNY 26,000 ($4,225) per metric ton for the fifth day in a row. The price of Chinese 304 stainless coil saw little movement at CNY 16,400 ($2,665) per metric ton. The price of Chinese 316 stainless steel scrap saw essentially no change for the fifth day in a row, remaining around CNY 16,100 ($2,616) per metric ton. The price of Chinese 304 stainless steel scrap was unchanged at CNY 16,400 ($2,665) per metric ton.

After a 1.0 percent increase, the nickel spot price finished the day on the LME at $18,800 per metric ton. The nickel 3-month price rose 1.0 percent on the LME to $18,880 per metric ton after a two-day drop. The Indian nickel cash price increased 0.3 percent to INR 1,148 ($18.99) per kilogram.

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