Aug 23, 2023
US mills increase stainless steel alloy surcharges for September 2023 – Stainless Espresso

2023-08-28
23 August 2023 – Stainless steel alloy surcharges in the United States for September 2023 are increasing. In particular, the surcharge for 316/316L is jumping up. Natural gas prices in Germany fell dramatically in July. And Asian commodities continue to develop positively.


US mills raise stainless steel alloy surcharges for September 2023
Although one of the major US stainless steel producers is still missing the current stainless steel alloy surcharges for September 2023, there are already indications that prices for September in the 300 series are likely to rise. In particular, 316/316L alloy surcharges are up more than 3%. At the same time, alloy surcharges in the 400 series are moving sideways.


German natural gas prices down 50.6% in July
In July 2023, energy prices in Germany were 19.2% lower than a year earlier. Producer prices for natural gas were even 40.6% lower than in July 2022. Import prices for natural gas fell even more significantly by 50.6% compared to the same month last year. Good news for the manufacturing industry in Europe’s largest member state, which had long complained about excessively high energy costs. This should bring relief for the important industrial location.


Commodities in Asia remain friendly
Prices for Asian commodities continued to develop positively today. In particular, iron ore rose by approx. 3.7%, HRC by approx. 1.2%, coke by approx. 2.9% and coking coal by approx. 4.1%. However, the nickel price also continues to hold steady at approx. $ 23,300 on the Asian SHFE and currently at approx. $ 20,600 on the European LME. 


Source: Steel News

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