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MAY NEWS If it isn't one thing, it's another. Nickel dropped for June so instead this month we can point the finger at the surcharge increases for Chrome, Iron and Energy. Nickel averages are down from $14.16 per pound in March to $13.05 per pound in April. This normally would drop the 304/304L surcharge down about 10 cents a pound but the Chrome, Iron and Energy surcharge added together will offset most of the nickel decrease. The 304/304L surcharge for June will be $1.6776 per pound versus the May surcharge of $1.6931 per pound. Moly remained soft for the month of April, thus keeping the 316/316L surcharge down a touch at $2.6053 per pound in June.
Stainless lead times are 6 to 10 weeks.
Carbon prices continue to go through the roof. Supply issues and scrap prices continue to be key factors in carbon pricing. Further mill increases are anticipated over the next few months so keep those seat belts fastened because this ride isn't over yet.
And while we are watching those prices climb to new heights we might as well mention the obvious and bring up transportation costs. Increases on freight surcharges show no sign of slowing down anytime soon either.
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