Stainless Steel surcharges increase

UK stainless steel surcharges have increased again following strong Nickel prices for February 2011 delivery.

The figures that where published today show increases of £116 (304) £159 (316) £31 (430), Nickel has performed strongly throughout the month following the lead from other commodities. Nickel reached eight month highs breaking the 26,000 USD mark before falling back slightly. The strong performance of nickel along with a greater demand for stainless steel has lead to price increases.

Surcharges for the key grades are listed below:-

1.4301 (304) 1604 GBP

1.4404 (316) 2493 GBP

1.4016 (430) 438 GBP

With increases in Coke for manufacturing steel and Iron, prices are not expected to fall in the short term.