Prices of stainless steel continue upwards
Nickel price continues upwards breaking a two year high this week adding pressure to stainless steel prices and availability. Prices have already increased by over 33% with worries over supply the main factor especially from Indonesia. The knock on effect is higher stainless steel prices and the desire to beat the increases leads to limited availability. All new production reflects the higher Nickel prices, these new production prices officially change monthly in Europe calculated in the form of a surcharge, however pricing from Asia is increasing daily.
The second commodity that is being focussed on much less is Molybdenum, this commodity mainly effects grade 316 / 1.4404 stainless steel used for more corrosive applications than the most common grade of stainless steel 304 / 1.4301. Typically around 2% of this grade is made up from Molybdenum, the price is important due to its high value currently around $28,000 per tonne, this represents an increase of over 25% since late March. As a result 316 prices will be increasing by larger margins than 304.
Often with higher prices the question is always how sustainable is it and will the increases show in delivered prices to end users. Well long term nobody really knows but the price increases are gathering pace, as a result all stainless steel users should be expecting higher prices well into quarter two and most likely at least until the end of the year.
Daily prices of Nickel, Molybdenum can be found on our web site. For current prices of stainless steel strip, wire, plate or accessories please contact email@example.com or +44 (0) 1772 337555