The monthly alloy surcharges for austenitic flat products of stainless steel grade 304 in Europe will probably reach their highest level this year in December. This was announced by the continent’s largest producer, the Finnish company Outokumpu, on November 23.
Outokumpu set its alloy adjustment factor for 304 flat products for December at 1,516 Eur/mt ($1,804/mt). This represents an increase of 64 Eur/mt compared to November and is the highest level since December 2019.
Three-month nickel prices reached a 12-month high
Three-month nickel prices on the London Metal Exchange reached a 12-month high of $16,310/mt at the end of October before easing again. For much of the current month, prices on both sides traded at $16,000/mt.
By November 20th, the average LME settlement price for nickel in November was $15,663/mt, 3% higher than the October average.
Outokumpu’s surcharge for molybdenum containing 316 flat products increased by 110 Eur/mt in December to 2,075 Eur/mt, which is also a peak for 2020.
Outokumpu’s surcharge for nickel-free flat products of type 430 increased by €2 to €577/mt for December.
The European benchmark ferrochrome price levelled off at 114 cents/lb in the fourth quarter of 2020, unchanged for the second consecutive quarter. The reference price levelled off at 101 cents/pound in the first quarter of 2020 and rose to 114 cents/pound in the second quarter of 2020.
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