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US stainless steelmakers raise Sept. surcharges for 300-series products

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US stainless steelmakers raise Sept. surcharges for 300-series products


US stainless steel surcharges ended a five-month skid Wednesday when major mills announced September increases for 300-series products.

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Ghent, Kentucky-based, North American Stainless raised its surcharge for Type 304 stainless to 65.18 cents/lb from last month's 63.54 cents/lb. The September surcharge for Type 316 stainless rose to 89.07 cents/lb from 88.21 cents/lb in August. But the company cut its September surcharge for Type 430 stainless, a non-nickel bearing grade of stainless, to 22.6 cents/lb from 23 cents/lb.

Pittsburgh-based ATI Allegheny Ludlum raised Type 304 and Type 316 stainless September surcharges to 65.19 cents/lb and 89.07 cents/lb from 63.55 cents/lb and 88.21 cents/lb, respectively. The surcharge for Type 430 was cut to 22.61 cents/lb from 23.01 cents/lb.

Butler, Ohio-based AK Steel followed suit. Type 304's surcharge was raised to 65.16 cents/lb from 63.53 cents/lb, while the Type 316 September surcharge rose to 89.03 cents/lb from 88.74 cents/lb. Type 430 saw its surcharge drop to 22.61 cents/lb from 23.03 cents/lb in August.

--Michael Fitzgerald,

--Edited by Jeff Barber,