Outokumpu European stainless steel surcharges edge higher for March

24 February 2015

Monthly alloy surcharges on austenitic grades of stainless steel flat-rolled products for March in Europe are set to rise modestly, reversing the previous month's decline, first mill announcements indicated Monday.

Finland's Outokumpu, the continent's largest producer, set its alloy adjustment factor for type 304 (4301) flat products at Eur1,324/mt ($1,499/mt) for March, up Eur32 from February.

Dollar-denominated nickel prices on the London Metal Exchange have stabilized somewhat in recent weeks after coming under heavy selling pressure along with the rest of the base metals complex in late 2014.

The LME nickel cash settlement price averages $14,651/mt for February to date, down from $14,770/mt for the month of December.