Surcharges for August 2011 announced by stainless steel producer Outokumpu have increased for the first time for over four months. Nickel has been rising over the last few weeks after seemingly hitting the bottom of the price cycle near to seven month lows in June of $21,830.
Although demand for stainless steel is generally lower through the summer period, the industry feeling is that demand will recover after the holiday period and with reductions in capacity from the major producers prices will steadily rise through the latter half of the year.
Ferritic surcharges have fallen slightly due to decreases in Chrome prices.
The new stainless steel surcharge figures announced by Outokumpu for delivery in August 2011 are as follows:-
304 / 1.4301 – 1612 EUR 1434 GBP
316 / 1.4404 – 2462 EUR 2189 GBP
430 / 1.4016 - 466 EUR 414 GBP