Spring has sprung and so have May surcharges. Both chrome and nickel prices are on the upswing and causing surcharges to jump up 20 cents a pound. Nickel average in March was $14.16 per pound versus $12.68 per pound in February. Chrome is up about 30 cents a pound. This will push up the 304/304L surcharge in May to $1.6931 per pound. Moly averages have remained consistent from month to month. The 316/316Lsurcharge for May will be $2.6670 per pound.
Stainless mills have implemented an approximate 5% increase in base prices.
Stainless lead times are 6 to 12 weeks depending on grades.
We have gotten used to watching stainless prices jump but now it looks like its time for carbon to get in the game. The rising price of scrap is sending the price of carbon up to record highs. Industry experts are crediting domestic and overseas demand, high prices for alternative scrap, and limited availibilty due to declining automotive production. Unlike stainless surcharges which move on a monthly basis, carbon prices have been moving from day to day and week to week. This makes quoting a challenge, so please keep that in mind that suppliers are noting price in effect at time of order. Carbon mills have reintroduced the surcharge mechanism. Watch out for the prices to climb, as they are going up a minimum of 7.5 cents per pound.
