The largest stainless steel producer on the European continent, Outokumpu, based in Finland, has set a new correction factor for alloy type 304 (4301). For flat products, the decrease is approximately $ 163 per tonne from the previous price, or € 129 from October.
As a result of the ban on the export of low grade nickel concentrates as well as unprocessed ore from Indonesia, nickel prices on the London Metal Exchange increased by 60 percent, helping to generate large market revenues.
The average price for nickel in cash on the London Metal Exchange in October varied from $ 18,079 per tonne to $ 16,020 per tonne. However, in addition to molybdenum, the price dropped from $ 2769 per tonne to $ 2467 tonne in September this year.
The price of molybdenum bottomed out as molybdenum oxide prices fell to a five-year low of $ 9 a pound since the beginning of October. Absent Outokumpu's additional surcharge for nickel, the flat steel price could drop $ 17, damaging hopes of a slight $ 18.96 rise in October.
The Outokumpu Group, headquartered in Espoo, near Helsinki, is considered the world's third largest stainless steel producer and operates in dozens of countries around the world with over 10,000 jobs.
Outokumpu cuts European surcharges on stainless steel
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Azovpromstal® 24 October 2014 г. 12:43 |
