World Average Stainless Steel Prices – Latest Forecasts From MEPS

Our forecasts have been revised upwards slightly as ferrochrome and scrap prices continue to soar. Further rises in transaction values are likely over the next two months as mills recover these escalating costs. Declining nickel prices will not be enough to offset the increases from the other alloying elements. Austenitic alloy surcharges gains in North America and Europe of between $US200 and $US535 per tonne over the next two months are predicted, with no significant drops anticipated until after the Summer holiday period. Stainless selling figures for cold rolled coil type 304 are expected to top $US4900 per tonne by the end of the second quarter, with type 316 values moving above $US7500 per tonne. The market outlook is uncertain from July onwards. Although, prices should remain high through the majority of the third quarter due to the increased raw material costs. For remaining portion of article go to MEPS