Scrap Monster has reported that the major stainless steel mills in Europe have decided to lower alloy surcharges for the month of November 2014. Even though these mills are located in Europe, the surcharge cuts affect the entire global stainless steel industry, including the United States. The specific mills that have announced a cut in surcharges include Outokumpu, Aperam and Acciai Speciali Terni.
Outokumpu has announced a cut of EUR 14 per ton in the November surcharges for 430 grade stainless steel. The new surcharge for the month of November will be EUR 459 per ton. The surcharge for 304 grades has been reduced by EUR 129 per ton from the previous month to EUR 1,315 per ton. Also, it has announced EUR 239 per ton cut in alloy surcharges for 316 grades in November. The new surcharge for 316 grades will be EUR 1,951 per ton.
Aperam has decided to cut its November surcharges for 430 grades by EUR 3 per ton to EUR 440 per ton. The 304 grades will be a cut in alloy surcharges by EUR 132 per ton to EUR 1,272 per ton. The company has also announced cut in surcharges to the tune of EUR 243 per ton for 316 grades. The new surcharge now stands at EUR 1,877 per ton.
Acciai Speciali Terni has announced a cut of EUR 11 per ton in November surcharges for 430 grade stainless steel. The new surcharge for the month of November will be EUR 463 per ton. The surcharge for 304 grades has been reduced by EUR 125 per ton from the previous month to EUR 1,312 per ton. It has also announced EUR 236 per ton cut in alloy surcharges for 316 grades in November. The new surcharge for 316 grades will be EUR 1,942 per ton.