February 2023 Nickel & Surcharge Update
Monthly Nickel and Surcharge Update
February 2023 Update
Thanks for reading the Ram Alloys Monthly Nickel and 316L s/c update, intended to help our valued customers make educated business decisions.
HUGE RISE
- 316L Surcharges SURGED in January... not due to energy costs but raw material costs
- Energy sees a slight decrease in January while raw materials increase
- More base price increases haunted the month of January
- A handful of mills increased their base price anywhere between 6% - 12%
- We expect this to remain steady then flatten in the months to come
- Lead times still well out
- Lead times have officially pushed to 2024, with some extending to Q3 2024!!
Current Take
LEAD TIMES: Depending on the grade, we are looking at mid Q1 2024 to early Q2 2024. Expecting this to remain constant due to strong demand, labor shortages, and raw material input supply.
PRICING: Mills issued another base price increase! The first of 2023. Also, nickel & moly have decided to surge this previous month due to lower levels of inventory.
SURVEY RESPONSES: Survey responses have been positive! Thank you to all who have responded as this also helps us. If you are still wanting to respond, please click the button below.
Yearly/Monthly 316L s/c and Ni Charts
Industry News
Click the links to read the articles below:
- U.S. Drilling Activity Continues To Slow
- The World's Largest Metals Market May Never Return To Its Former Glory
- U.S. reports blowout job growth; unemployment lowest since 1969
- Column: Analysts wary of base metals after China recovery rally
- LME expands nickel committee to help improve contract, dwindling volumes
- India to seek easing of EU steel quotas, tarrifs in trade talks
- Column: New year, new nickel market after LME's 2022 meltdown?
- Nickel time bomb as inventory disappears from view
EU Quota Info
EU Quota System Highlights:
- Quotas by EU country, not mill, and by HTS Code, not grade
- Quarterly volumes based on a first come/first served bases
- Link: US Customs and Border Protection Quota Bulletins
- Link: US Customs and Border Protection Quota Utilizations found in its Commodity Status Reports
- Imported volumes > quota assessed a 25% tariff
- Exclusions apply, but adjustments under consideration
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!