The Stainless Monthly Metals Index (MMI) rose by 3.8% month over month.
Nickel continues to be within an overall uptrend. However, LME prices experienced significant volatility throughout October.
Prices dropped as low as $17,810/mt in the early days of the month before they spiked to $20,475/mt by Oct. 21. Prices have since retraced and appear to have consolidated near February highs.
Do you know the five best practices of sourcing metals, including stainless steel?
Base price, extras increase
As stainless steel demand increases while mill capacity remains steady, base prices and surcharges continue to increase.
Effective Nov. 1, Outokumpu announced a base price and extras increase, in addition to adding silicon to its alloy surcharge calculation. The increases affect the 200, 300, as well as 400 series.
Extras rose for products that impact productivity or add complexity to its mix, including tempers, width and gauges. Meanwhile, as ferrosilicon more than doubled in price since September, Outokumpu announced an adder for 301 Silicon followed by the implementation of a silicon component to its alloy surcharge. NAS’ November alloy surcharge for 304 also increased from October.
Cut-to-length adders. Width and gauge adders. Coatings. Feel confident in knowing what you should be paying for metal with MetalMiner should-cost models.