US stainless sheet base prices hold steady

Stainless cold rolled sheet prices in the USA are poised to fall in July as lower chrome and nickel prices drag surcharges down, but base prices are expected to remain steady, according to market participants.

“Prices seem stable,” a midwestern US distributor source said. “There [are] no swings one way or another on the base prices.” Two other midwestern distributors also confirmed that base prices are holding their ground. However, surcharges for Type 304 stainless cold rolled sheet are poised to drop nearly 11 cents for July, on falling chrome and nickel prices. The quarterly European ferro-chrome benchmark published by Metal Bulletin fell for the third quarter, logging a 28.60% drop from the previous quarter to $1.10 per lb. The cash nickel contract closed the London Metal Exchange’s official session at $9,040 per tonne ($4.10 per lb)...

Published

Grace Lavigne Asenov

June 26, 2017

22:06 GMT