“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)...