Stainless steel pipe, fittings & flanges report: November 2017
Stainless base price hikes announced in September took hold last month, for the most part, and that success has led some analysts to believe more base price increases for November also will stick.
However, American Metal Market (AMM) reports that surcharges are expected to decrease for the first time in three months due to lower nickel and iron prices. Domestic kingpins ATI, AK Steel, NAS and Outokumpu Stainless USA all announced diminished surcharges ranging from below (1.0) % for Type 430 (AK) up to (4.97) % declines for Type 316, announced by both ATI and NAS.
Most observers believe stainless steel prices are expected to increase globally through the end of the year, mainly due to higher input costs and steady demand in the Asian, European and North American markets.
Nickel prices are expected to shoot up in the coming years due to burgeoning production of electric vehicles. Nickel compounds are a staple of their lithium-ion batteries, according to the energy research firm Wood Mackenzie.
Global stainless steel melt shop production increased by 5% year-on-year in the first half of 2017, according to the International Stainless Steel Forum (ISSF).
Global production of molybdenum increased by 13% in the second quarter from the first and was up 18% compared with the same period in 2016, according to the International Molybdenum Association (IMOA). Global use of molybdenum in the second quarter also increased slightly, up 1% over the first quarter and 7% compared with the same period in 2016.
The American Supply Association (ASA) and its Industrial Piping Division (IPD) is the national organization serving wholesaler-distributors and their suppliers in the industrial and mechanical pipe-valve-fitting industry. As a powerful alliance of channel partners, we provide a forum for your upstream trading partners to exchange critical information and address key issues.
In particular, ASA’s IPD members constantly check the pulse of the materials and commodities they proudly supply to you. ASA’s IPD members are knowledgeable industry leaders, and those who volunteer their service on the IPD Executive Council compile and prepare the IPD Commodity Reports. The Reports contain some of the most current and qualified market data and information available from the industry’s leading manufacturers and distributors about emerging trends and other price-influencing actions and events.
This information is an example of how ASA’s IPD manufacturer and distributor members are constantly looking ahead to ensure you have information and resources you need to be successful. Learn more at www.AdvanceYourAbility.com.