AmstekMetal is pleased to send you our March Newsletter.
Stainless Strip:
Domestic producers announce base price increase. Again!
Domestic Producers file Antidumping & Countervailing Duty petition against China.
Surcharges: March Surcharges.
Market Updates
All four domestic stainless strip mill producers (AK, ATI, NAS and Outokumpu) announced a second base price increase on all stainless steel products effective with shipments on March 1, 2016. The increase will be achieved by 2% reduction in the functional discount. The first base price increase for the same amount was implemented effective on January 1st.
Additionally, AK, ATI, NAS and Outokumpu (Domestic stainless strip producers) have all filed an Antidumping and Countervailing Duty Petition against imports from China. They site, "Surging imports of unfairly low-priced stainless steel sheet and strip from China have devastated pricing in the U.S market and caused severe injury to the domestic industry"
Amstek Metal continues to monitor these announcement and its impact to our customers and in the market.
Lead-Times from the domestic stainless strip mills are now 8-10 weeks on many grades and gauges ranges. Precision strip from several re-rollers are now at 14 weeks. Stainless wire lead-times are currently short and supply is generally good. Lead-Times from offshore suppliers of all products are running 14-16 weeks.
Amstek Metal closely monitors material pricing and availability developments in the stainless and high carbon markets. Any significant changes in market conditions will be communicated in a future newsletter or through your local sales representative.
Surcharges - March 2016
LME Nickel: The average used to calculate March stainless strip surcharges was at $3.78/lb. in February or $0.07lb. lower than the average used for the February Surcharge. Nickel is trading around $3.87 in early March.
Surcharges: Due to the continued lower trading average of Ni, the producing mills' of stainless strip and wire have reduced the surcharges slightly in March.
March 2016 Stainless Surcharge information as well as previous months' data is available by clicking Surcharges.
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