Outokumpu the Finnish stainless steel producer announced new lower surcharges for October delivery. Following further falls in Nickel prices, the surcharges are now at their lowest for 18 months. The surcharges applicable in Europe on all deliveries in October.
Demand for stainless steel has been low due to holidays and this effects the use of Nickel. With prices hitting a low and growth expected in 2012 any increases in Nickel prices could signal the bottom of the price cycle and trigger a wave of re-stocking.
Some of the key grades have the surcharges listed below:-
304 / 1.4301 – 1489 EUR 1304 GBP
316 / 1.4404 – 2282 EUR 1997 GBP
430 / 1.4016 - 439 EUR 384 GBP