Economics 101 -  It is all about supply and demand.  Nickels tight supply due to heavy importing from China and commodity funds buying into the hot market have elevated the nickel price to over $21.00 per pound. This has sent the 304/304L surcharges up another .22 cents a pound in April and hold on to your bootstraps for May’s number. Moly pricing is also at close to record highs thus increasing March’s 316/316L surcharge of $2.3963 per pound to $2.6704 per pound in April. Nickel is at all time highs and so far this month is trading at an average of $20.16 per pound. At this rate the surcharges on 304L and 316L will go up another .10 cents a lb minimum in May. Stainless lead times are 6 to 16 weeks depending on the mill.  See the attached 20 year nickel history chart.

Carbon pricing remains stable but rumors of increases are out there right now. Lead times are 5 to 8 weeks.