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Surcharges Fall In April, U.S. Stainless Steel Prices Slow Down

Apr 16, 2021

Although the supply is still tight, the domestic sales price of stainless steel coils in the United States fell slightly after rising for four consecutive months in April due to the drop in alloy surcharges.

Affected by the drop in international nickel prices, three of the four major US stainless steel plants this month unanimously reduced the surcharges for 304 and 316 stainless steel by 1.96 cents/lb and 1.14-1.15 cents/lb respectively. However, due to the rising price of chromium, dealers expect the surcharge to rise by US$80 per short ton in May, which will drive the rise of stainless steel products.

At this stage, the local supply in the United States is still tight. Traders say it will be difficult to order the goods even if the price is reduced, and the steel mills' orders are already saturated. At the same time, due to the 232 tariff restrictions, imported goods have no competitive advantage. In addition, the strike at the 9 plants of Allegheny Technologies (ATI) at the end of March by the American Iron and Steel Workers Union made supply even more unstable.

According to professional organization tracking, as of early April, the ex-factory price of 304 stainless steel cold-rolled coils in the past month was US$3,120 per short ton, down US$40 (1.27%) from March, but increased by US$30 (0.97%) from February. . The ex-factory price of 304L stainless steel cold rolled coil is US$3,160 per short ton, down US$40 (1.25%) from March and US$30 (0.96%) from February. The ex-factory price of 316L stainless steel cold-rolled coils was US$4,110 per short ton, down US$20 (0.48%) from March and US$130 (3.27%) higher than February.

 *1 metric ton = 2204.6 pounds