European stainless steel producers Aperam and Acciai Speciali Terni followed Finland’s Outokumpu in raising alloy stainless surcharges.
The increases effectively reversed the drop in surcharge levels in early February.
Luxembourg-based Aperam set its alloy adjustment factor for type 304 (4301) flat products at €1,283/metric ton ($1,456/mt) for March, up €45 from February, while Italy’s Terni raised its 304 surcharge €34 to €1,322/mt.
The day’s biggest mover broke away from a static phase with a 7.9% drop on Wednesday, February 25. After three changeless days, the Allegheny Ludlum 316 stainless surcharge closed at $0.87 per pound. The price of Chinese primary nickel saw little movement at CNY 106,900 ($17,109) per metric ton. The price of Chinese 304 stainless steel scrap remained essentially flat at CNY 9,450 ($1,512) per metric ton. For the fifth day in a row, the price of Chinese 316 stainless steel scrap remained essentially flat at CNY 13,050 ($2,089) per metric ton. The price of Chinese 304 stainless coil was unchanged at CNY 16,700 ($2,673) per metric ton.
The price of Chinese ferro-chrome continues hovering around CNY 10,950 ($1,753) per metric ton for the fifth day in a row. For the fifth consecutive day, the price of Chinese ferro-moly held flat at CNY 82,000 ($13,124) per metric ton.
At $14,250, the nickel spot price finished the market day on the LME up 2.4% per metric ton. On the LME, the nickel 3-month price inched up 2.3% to $14,300 per metric ton. The Indian nickel cash price increased 1.8% to INR 891.30 ($14.35) per kilogram.