US Stainless steel majors cut alloy surcharges for October

WASHINGTON (Scrap Monster) : The major stainless steel producers in the US have announced cuts in alloy surcharges for stainless steel products for the month of October. This is the sixth in the past seven months that the producers have announced surcharge cuts. The alloy surcharges had witnessed a rebound in September. The producers include North American Stainless (NAS), AK Steel and ATI Allegheny Ludlum.

NAS cut its alloy surcharge for 304 grades stainless for October to 63.90 cents/lb, lower than 65.18 cents/lb in September. The surcharge for the product during August was 62.67 cents/lb. Also, its October alloy surcharges for 316 grades fell to 88.02 cents/lb from 89.07 cents/lb.

AK Steel reduced its alloy surcharges for 304 grades stainless from US$0.6516/lb to US$0.6388/lb. Meanwhile, its stainless surcharges for 316 grades were dropped to US$0.8798/lb from US$0.8903/lb. AK Steel lowered its surcharge on Type 430 products to 22.22 cents/lb from 22.61 cents/lb.

ATI Allegheny Ludlum reduced its surcharges for 304 grades to 63.89 cents/lb from 65.19 cents/lb in September, whereas those of 316 grades were reduced from 89.07 cents/lb to 88.02 cents/lb for October. The Type 430 surcharge has been lowered from 22.61 cents/lb to 22.21 cents/lb.