Monthly alloy surcharges on austenitic grades of stainless steel flat-rolled products for November in Europe are set to fall, first mill announcements indicate.
Receive daily email alerts, subscriber notes & personalize your experience.Register Now
Finland's Outokumpu, the continent's largest producer, set its alloy adjustment factor for type 304 (4301) flat products at Eur1,315/mt ($1,665/mt) for November, down Eur129 from October.
London Metal Exchange nickel prices spiked over 60% in the first half of the year on the back of Indonesia's announcement of a ban on the export of unprocessed ores and concentrates, but the market has since given back the bulk of its gains.
The LME nickel cash settlement price averages $16,020/mt for October to date, down from $18,079/mt in September.
The surcharge for molybdenum-bearing type 316 (4401) flat products was set at Eur1,951/mt, down from Eur2,190/mt in September.
Molybdenum prices came under severe pressure after the traditional summer slowdown, with the Platts daily dealer moly oxide assessment slumping to a near five-yar low at $9.00-9.15/lb on October 9 before recovering to current levels just below $10/lb.
Outokumpu's surcharge for nickel-free type 430 flat products will fall by Eur14 to Eur459/mt, wiping out the Eur15 increase seen for October.
Other European producers have yet to announce next month's surcharges.