Stainless steel prices in the United States were flat across the board this month due to stable base prices and essentially unchanged surcharges, although surcharges are expected to decline in December.
"Base prices are the same and surcharges are down nominally this month," a distributor in the Midwest said, which was confirmed by other market participants. Some mills are selling at December prices already because surcharges are expected to decline at least 4 cents per lb, a trader source said. Surcharges "will go down 4-5 cents in December," a Southern distributor said. "December is looking like it will get a 5- to 6-cent hit on austenitic surcharges, all because of nickel," the Midwestern distributor said. "Moly[bdenum] is having a rough go lately too, so [grade] 316 is going to be challenged in December." Indeed,...