AK Steel announced today the release of Chromeshield™ 22, a new nickel-free stainless steel product.
Chromeshield 22 was developed by AK Steel at its Research Center in Middletown, Ohio, principally for manufacturers of appliance and food service equipment, tubing, cookware, automotive exhaust components and heat exchangers. After rigorous testing and customer trials, Chromeshield 22 was proven to be an attractive, lower-cost material solution with numerous manufacturing benefits across several of the most demanding applications.
Similar to nickel-bearing stainless steels, Chromeshield 22 is rust and stain-resistant with excellent corrosion properties.
In numerous applications, the corrosion resistance of Chromeshield 22 will meet or exceed the performance of conventional nickel-bearing stainless steels. This breakthrough in technology will better maintain both the integrity and appearance of the product versus many higher priced stainless products.
Chromeshield 22 withstands extreme changes in temperature better than nickel-bearing grades of stainless steel used for comparable applications. This is particularly important to manufacturers of automotive exhaust components, cookware and heat exchangers, as Chromeshield 22 offers enhanced protection against both oxidation and temperature-related stress and fatigue fractures.
AK Steel’s Chromeshield 22 has been approved by NSF International, a leading health and public safety organization, as safe for food contact. This is a critical benefit for the food service equipment market.
Chromeshield 22 is produced in America, allowing customers to secure domestic sourcing for US manufacturing operations. Since Chromeshield 22 does not contain nickel, pricing is more predictable than the extremely volatile fluctuations of nickel-bearing steels, whose costs are driven by nickel trading on the London Metal Exchange.
Dropping 1.2 percent, the cash price of primary Indian nickel was the biggest mover on Tuesday, September 16, closing at INR 1,123 ($18.40) per kilogram. On the LME, the spot price of nickel fell 0.5 percent to $18,250 per metric ton. On the LME, the nickel 3-month price declined 0.4 percent to $18,325 per metric ton.
Chinese stainless steel prices closed flat for the day. The price of Chinese ferro-chrome held steady at CNY 8,300 ($1,351) per metric ton. For the fifth day in a row, the price of Chinese ferro-moly remained essentially flat at CNY 145,000 ($23,608) per metric ton.
The price of Chinese 316 stainless coil saw essentially no change for the fifth day in a row, remaining around CNY 26,000 ($4,233) per metric ton. The price of Chinese 304 stainless coil saw little movement at CNY 16,400 ($2,670) per metric ton. The price of Chinese 316 stainless steel scrap held steady at CNY 16,100 ($2,621) per metric ton. The price of Chinese 304 stainless steel scrap was unchanged at CNY 16,400 ($2,670) per metric ton.