European stainless steel mills announce major cut in alloy surcharges

CANTERBURY (Scrap Monster): Major stainless steel mills in Europe have decided to lower alloy surcharges for the month of November 2014. The mills that have announced cut in surcharges include Outokumpu, Aperam and Acciai Speciali Terni.

Outokumpu has announced cut of €14/ton in November surcharges for 430 grade stainless steel. The new surcharge for the month of November will be €459/ton. The surcharge for 304 grades has been reduced by €129/ton from the previous month to €1,315/ton. Also, it has announced €239/ton cut in alloy surcharges for 316 grades in November. The new surcharge for 316 grades will be €1,951/ton, the company announced.

Aperam has decided to cut its November surcharges for 430 grades by €3/ton to €440/ton. The 304 grades will be a cut in alloy surcharges by €132/ton to €1,272/ton. The company has also announced cut in surcharges to the tune of €243/ton for 316 grades. The new surcharge now stands at €1,877/ton.

Acciai Speciali Terni has announced cut of €11/ton in November surcharges for 430 grade stainless steel. The new surcharge for the month of November will be €463/ton. The surcharge for 304 grades has been reduced by €125/ton from the previous month to €1,312/ton. It has also announced €236/ton cut in alloy surcharges for 316 grades in November. The new surcharge for 316 grades will be €1,942/ton, the company stated.