By Chris Shaw<\/p>\n
Stainless steel prices are now at record highs but in the view of steel industry consultant MEPS the run has not finished and prices are set to push even higher in coming months.<\/p>\n
The group sees prices for type 430 cold rolled coil hitting as high as US$2,500 per tonne by June, which would be an increase of 34% in year-on-year terms. Much of the increase can be attributed to higher mill input costs in the group’s view, as ferrochrome prices have risen from around US$0.85 per pound in the middle of last year to around US$2.00 per pound now.<\/p>\n
Chromium costs have also more than doubled from US$340 per tonne of steel last year to around US$800 per tonne of steel now, pushing up ferritic selling prices by US$460 per tonne over the same time span. With further increase in ferrochrome prices expected in coming months the group suggests the trend remains firmly in favour of higher prices.<\/p>\n
Austenitic grades are similarly affected by the increases though here MEPS points out recent falls in nickel prices are to some extent offsetting the higher chrome prices, meaning price gains in this sector are unlikely to be as strong as for ferritic prices.<\/p>\n","protected":false},"excerpt":{"rendered":"
Industry consultant MEPS suggests stainless steel prices are likely to continue rising, driven largely by higher input costs.<\/p>\n","protected":false},"author":9,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[59],"tags":[89,88],"acf":[],"_links":{"self":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/posts\/54192"}],"collection":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/comments?post=54192"}],"version-history":[{"count":0,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/posts\/54192\/revisions"}],"wp:attachment":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/media?parent=54192"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/categories?post=54192"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/tags?post=54192"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}