By Paul Ploumis 23 Sep 2015 Last updated at 04:08:10 GMT
Major European stainless steel producers have announced cut in alloy surcharges for austenitic grades of stainless steel flat-rolled products.
BRUSSELS (Scrap Monster): Major stainless steel producers in Europe have announced further drop in stainless steel surcharge for the month of October this year. Those who cut alloy surcharges on austenitic grades of stainless steel flat-rolled products include major producers such as Outokumpu and Acciai Speciali Terni.
As per reports, Outokumpu has lowered its alloy surcharges for 304 grade stainless steel flat-rolled for October by €97/ton from the month ago. After adjustments, the surcharges will average at €985/ton for October. This is the first time that the surcharge has dipped to three-digit figure since January last year. The surcharge for the product during September was €1,082/ton. This is the lowest level since 2009. Also, its alloy surcharges for 316 grades will be lowered by €142/ton to €1,339/ton from €1,481/ton. The surcharge for 430 grades will be reduced by € 14/ton to €445/ton, the lowest level since Jan ’14.
Also, Acciai Speciali Terni has announced to cut its alloy surcharges for 304 grade flat products. Terrni’s surcharge for Oct ’15 will be at €979/ton, significantly down by €100/ton when matched with the surcharge level of €1,079/ton in September. The company has also decided to lower the alloy surcharges for 316 grade flat products by €148/ton to €1,331/ton from €1,479/ton. Meantime, the surcharge levels of 430 grades will be at €446/ton during Oct’15, down from €461/ton during September this year.
Other stainless steel makers in the European region including Aperam, Acerinox and ThyssenKrupp are expected to soon follow suit.