Thanks for reading the Ram Alloys Monthly Nickel and 316L s/c update, intended to help our valued customers make educated business decisions.

Review of 2022...

• Base prices surged multiple times during 2022
• All mills increased base prices: 4 - 6 times
• Causes: limited supply, limited personnel, high demand, raw material increase, energy crisis
• Lead times continued to extend as supply was limited and demand was/is still strong
• 24-28 week lead times are only a memory
• Standard lead times are creeping into the 60-80 week range
• Mills not quoting production weeks at a time to catch-up with their open orders
• Expect this to continue well into 2023 and hopefully creep back down towards the end of 2023... will be a slow decrease
• Introduced to a new type of surcharge... ENERGY SURCHARGE
• Due to the ongoing Western Europe energy crisis which started in February 2022, many mills added a Energy Surcharge on top of Alloy Surcharge
• The short supply of natural gas mixed in with the high demand increase gas prices in all of Western Europe
• Many mills were/still are turning down orders depending on grade due to the lack of energy
• Trouble with shipping
• Shipping lead times also increased 2x-3x
• Shipping containers were hard to locate along with limited staff at ports to load/unload vessels
• Many vessels were anchored along the coast for weeks before they were allowed into ship channel
• Result = increased cost and lead time
• LME Suspension in March
• Intense nickel trading brought us extreme price volatility and the suspension of trading
• During this time, mills were turning down quotes due to this trading mishap
• Nickel hit an all time historical high in April 2022

Yearly/Monthly 316L s/c and Ni Charts

Industry News 

Click the links to read the articles below:

• Germany Welcomes First LNG Carrier At New Wilhelmshaven Terminal
• Growth constraints to shackle industrial metals for a few more months
• Analysis: Turbulence still haunts LME nickel, months on from trade debacle
• WTI sinks beneath $78.00 on global recession fears, upbeat USD
• United Airlines makes big Boeing order, including 100 Dreamliners
• Nickel Prices Could See Some Bullish Upside This Month
• EUR/USD battles to retain 1.0600 post-FOMC Minutes

EU Quota Info  

• Quotas by EU country, not mill, and by HTS Code, not grade
• • Link: Unofficial steel country quotas
• 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!