2008 proved to be a roller coaster year for the metals market so as we start the New Year we are carefully watching to see what 2009 holds in store. Looks like we may have finally hit the end of the stainless slide for now. Nickel, moly and chrome averages all ended the year with decreases. December nickel averaged $4.39 per pound versus November’s $4.85 per pound. So heading into February the 304/304L surcharge will be $.4125 per pound. In December the moly averaged $9.60, down $.40 off of from November’s number. Thus, the 316/316L surcharge for February will be $.6112 per pound. Since November nickel has averaged the mid $5 range, so a slight uptick may be coming in March.
Stainless mill lead times are 4 to 8 weeks.
Carbon prices continue to soften and Mill lead times are 5 to 6 weeks.
