“Base prices are the same and surcharges are down nominally this month,” a distributor in the Midwest said, which was confirmed by other market participants.
Some mills are selling at December prices already because surcharges are expected to decline at least 4 cents per lb, a trader source said.
Surcharges “will go down 4-5 cents in December,” a Southern distributor said.
“December is looking like it will get a 5- to 6-cent hit on austenitic surcharges, all because of nickel,” the Midwestern distributor said. “Moly[bdenum] is having a rough go lately too, so [grade] 316 is going to be challenged in December.”