Stainless steel pipe, fittings & flanges report: May 2017
Three of the four largest domestic stainless steel producers decreased May surcharges for all types in response to falling tags for nickel, manganese, iron and molybdenum. ATI, AK Steel and NAS announced declines of a little less than 2% for Type 201, -3.9% for Type 304 and around 2.15% percent for Type 316. Surcharges for Type 430 were reported dropping by about a third of a percent. Inventory overhangs, coupled with nickel dropping on the London Metal Exchange (LME), are leading to declines in stainless prices after a relatively robust first quarter, although most of the gains were attributable to January base price hikes.