#COST OF STAINLESS STEEL PER POUND SERIES#

The price of steel can vary based on the location, but it also depends on many other factors. The cost per pound of steel is a cost that is associated with the price of steel in a given area. The average cost of steel in 2022 is $0.42 per pound. What is Average Cost Per Pound of Steel ? To calculate the cost per pound of steel, simply divide the cost per pound of steel by the steel weight. Where CPPS is the cost per pound of steel ($/lb).Sick of not finding good price indexes for stainless steel? Check out the MetalMiner stainless steel should-cost model - detailed price-per-pound info for grade, form, alloy, gauge, width, cut to length adders, polish and finish adders.

Indian primary nickel rose 2.4% to $17.77/kilogram.įeCr lumps increased 3.3% to $1,662.89/mt.

Similarly, Chinese 304 cold-rolled coil rose to $2,540.95/mt.Ĭhinese primary nickel increased 3.8% to $20,778.32/mt. LME primary three-month nickel increased 6.9% to $17,761/mt.Ĭhinese 316 cold-rolled coil increased to $3,512.27/mt. The Allegheny Ludlum 316 stainless surcharge increased 10.4% month over month to $1.17/pound. China nickel prices (MetalMiner Insights data) Actual metals prices and trends The China price, however, consistently trades higher than its LME counterpart. China and LME nickel prices follow the same trend. Therefore, China has interests in most of the nickel global supply chain.Ĭhinese dominance in the nickel market can be seen in the graph below. In addition, it would supply the growing stainless steel market.Įstablishing this type of strategic supply chain with Canada could prevent nickel prices - and, consequently, stainless steel prices - from spiking on material shortage fears.Ĭurrently, China exports large amounts of nickel to produce nickel pig iron and stainless steel. The US is looking to ensure the nickel produced at the Crawford Nickel-Cobalt Sulphide project supplies future US production of electric car batteries. In an effort to secure nickel supply for the domestic market, the US government is negotiating with Canada Nickel Co Ltd., a Canadian junior mining company, Reuters reported. Expectations of higher demand for nickel batteries remains strong. The price increase could be due to a bull market along with market fears of material shortages. Meanwhile, SHFE nickel prices closed at CNY 133,650/mt (or $20,663/mt). However, nickel prices on the LME and SHFE managed to maintain the uptrend into 2021. Over the past two months, most base metals seemed to lose momentum after a bullish price increase in the second half of 2020. February alloy surcharges for 304 will be $0.8592/lb, an increase of $0.0784/lb compared to January.īoth NAS and Outokumpu are also revising their equalized freight rates, which take effect in March.Īre you under pressure to generate stainless steel cost savings? Make sure you are following these five best practices. In addition, Outokumpu also will be implementing a $0.05/lb adder for 21 gauge and lighter.Īs the only producer of 72″ wide in North America, Outokumpu increased its 72″ wide adder to $0.18/lb.Īlong with rising base prices, alloy surcharges are rising for the third month in a row.

#COST OF STAINLESS STEEL PER POUND SERIES#

Outokumpu diverged from NAS, as it increased all other 300 series alloys, 200 series and 400 series by reducing the functional discount by three points.

For 304, the base price increase amounts to approximately $0.0350/lb. Stainless steel producers North American Stainless (NAS) and Outokumpu announced price increases effective for February deliveries.īoth producers announced a two-discount-point reduction for standard chemistry 304, 304L and 316L. The Stainless Monthly Metals Index (MMI) increased by 4.5%, as stainless flat rolled base prices continue to move upward due to extended lead times and limited domestic capacity ( following a similar trend with steel prices). Stainless MMI: Base prices, surcharges continue to increase

Cost of stainless steel per pound