13 April 2015
MEPS International has reported that so far in 2015 a quick decline in the cost of raw materials, especially nickel, has led to a substantial cut in stainless steel prices in the United States and in countries where the prices are denominated in American dollars.
As per MEPS, LME nickel cash figures plummeted from a high of USD $16, 800 per ton during December, to a low of $13, 920 per ton, during February, which is a decrease of more than 17 percent. As this drop was factored into alloy surcharges, transaction prices for grade 304 cold rolled coil, in the US, fell by 8 percent, between January and March. These price reductions have discouraged buyers at the service centres from placing forward orders.