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Market Volatility
After a decline in the summer, stainless and raw material prices are increasing. The volatility comes from both the supply of materials like nickel, nickel pig iron, and the general state of the global economy.
Stainless Steel Surcharges
Currently the projected December surcharge for 304 and 316 is back to the May-June levels. Our outlook is a flat or slightly increasing January with a correction predicted for late spring. Keep in mind the influences of many economies—including Ireland’s current financial crisis and the slow rebound from the US recession—are still heavily influencing the commodities market.
Other Raw Materials
Nickel is up, at $10.80, with molybdenum at $15.23 and chrome at $1.30. Molybdenum and Nickel are almost 30% higher with October 2010 deliveries versus 2009, and Chrome is over 45% higher than the year previous.
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