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May 2023 Nickel & Surcharge Update

stainless steel and nickel prodcuts

 

Monthly Nickel and Surcharge Update 

May 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.

WHAT IS NORMAL?

 

  • 316L Surcharges decreased SIGNIFICANTLY
  • Moly took a huge nosedive during the month
  • Energy surcharges decrease as we are well into the Spring months.
  • Base prices stay consistent but still high relative to previous years
  • Long lead times are the main driver for 2023 pricing
  • Lead times are still well into Q4 2024

 


 

Current TakeJUNE 2023 Nickel Projections

RAW MATERIAL PRICES: Raw material surcharges tanked in April as they continued their downward trend. Moly was the main reason for the large drop.

LEAD TIMES: Long lead times will be the story of 2023 due to high demand, low VAR and finishing capacity, and labor shortages. All grades are into Q2 2024 and beyond. Uncertainty and apprehension to buy may rein them in, but the equal and opposite reaction may be stock outs...not helpful. The balancing act continues.

BASE PRICES: Most mills continue to stay consistent with their base prices, with some incrementally increasing base prices on top of the Q1 bump. We expect this to remain the story going forward. Simply put: mills do not need business.

SECTION 232: Quota is still open for Q2 but how long will this last? We are nearing 50% after the first month, and once quota is filled the 25% tariff will be back. The 25% tariff was in play during Q1. Keep in mind, the quota system is set to expire this year.

 

May 2023 Nickel Projections

May 2023 Nickel Projections

Industry News 

Click the links to read the articles below:

 

EU Quota Info  

EU Quota System Highlights:


 

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!