Stainless Steel surcharges increase 2010
Surcharges announced by several European mills show a big jump in price for February delivery for Austenitic stainless typically 304 and 316 grades. This follows strengthening commodity prices, Nickel has risen to over $18,500 per tonne from levels below $16,000 per tonne in early December. The largest increase is for Moly bearing grades typically 316 which as well as suffering the effect of higher Nickel prices, the main driving factor on these is the surge in Molybdenum prices which have seen significant rises.
The increase in surcharges for 316 equate to 339 Euro or 288 GBP, 304 figures are 175 Euroor 146 GBP
With growing demand from China for stainless steel and strengthening demand in Europe the outlook for prices is to remain strong for Q1 and Q2 2010.