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European stainless steel surcharges slide again for October-The 17th China(Guangzhou)Int'l Stainless Steel Industry Exhibition
9/23/2015 Stainless Steel Industry expo |
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October''s monthly alloy surcharges on austenitic grades of stainless steel flat-rolled products in Europe continue to slide in the face of continued weakness in nickel and molybdenum prices, first mill announcements indicated Tuesday.
Finland''s Outokumpu, the continent''s largest producer, set its alloy adjustment factor for type 304 (4301) flat products at Eur985/mt ($1,099/mt) for October, down Eur97/mt from September and the first time the surcharge has dipped below the Eur1,000/mt level since January 2014.
Dollar-denominated nickel prices on the London Metal Exchange hit a six-year low last month and the market continues to languish below the $10,000/mt level, having fallen by around 36% since the beginning of the year.
The LME nickel cash settlement price averages $9,930/mt for September to date, down from $10,335/mt for August.
The surcharge for molybdenum-bearing type 316 (4401) flat products was set at Eur1,339/mt, down from Eur1,481/mt in September.
The October figure is the lowest since 2009, according to Platts records. Molybdenum oxide prices slumped to 11.5-year lows in July, falling below the $6/lb level for the first time since November 2003, and have continued to trade below $6/lb since mid-August, basis Platts assessments.
This time last year the oxide market was trading at around $11.50/lb.
Meanwhile, Outokumpu''s surcharge for nickel-free type 430 flat products is down Eur14 at Eur445/mt for October, its lowest level since January.
Italian producer Acciai Speciali Terni also cut its October surcharge levels to Eur979/mt for 304, down from Eur1,079/mt in September; Eur1,331/mt for 316, down from Eur1,479/mt; and Eur446/mt for 430, down from Eur461/mt.
不銹鋼展-2016第十七屆廣州國(guó)際不銹鋼工業(yè)展-效果最好的不銹鋼展會(huì)-stainless-steel-The 17th China(Guangzhou)Int''l Stainless
Steel Industry Exhibition
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