August 2021 Nickel & Surcharge Update
August 2021 Update
Thanks for reading the Ram Alloys Monthly Nickel and 316L s/c update, intended to help our valued customers make educated business decisions.
RAM ALLOYS WILL BE CLOSED FOR LABOR DAY (09/06/2021)
316L s/c Hits 10 Year High:
- August 2021 316L s/c = $1.46/lb. the highest since September 2011.
- And...we are projecting an increase for next month.
- How long will this run last? Nobody knows, but we believe the story will become much clearer in the coming months. Stay tuned for updates!!!
We may be closer to price normalization than we think. The Labor Market should relax soon, rumors of Section 232's modification could be realized, and China is increasing efforts to combat inflation (see article below). That said, a depressed US Dollar may throw a wrench in these plans (see chart below).
Molybdenum Spot Price update:
- Skyrocketing prices have settled and started decreasing.
- This could be a macro indication or false hope, time will tell.
However, any impact of decreasing moly will be offset by rising Nickel, which has recently hovered around $9/lb. If Nickel breaks double digits, and holds, that will be trouble.
30 Day USD Index (down) V. 30 Day Ni Prices (up)
Click the links to read each article:
- Booming stainless steel output to sustain nickel prices for months
- China raises export tariffs in an effort to curb production and decrease raw material demand
- Dollar holds near one-month low following Fed Chair reiterating rate increases were "a ways away" and the job market still had "some ground to cover"
Ram Alloys is a niche service center supplying a complete inventory of stainless steel, nickel products, pump shaft quality bars, and boat shaft quality bars in a full range of standard grades. Value-added services include comprehensive and customized processing options, prompt shipping, same-day order turnaround, and 24/7 availability. We're here to ensure that your procurement needs are met quickly and accurately, minimizing schedule impacts and return material authorizations. Request a quote today!