NEW YORK ATI Allegheny Ludlum Corp. is lowering its stainless surcharges for December, bringing some grades to their lowest levels so far this year on the back of falling nickel prices.
The company, a division of Pittsburgh-based Allegheny Technologies Inc., set its surcharges for Type 304 at 72.99 cents per pound, down 7.9 percent from 79.28 cents in November; Type 201 at 48.56 cents, down 4.7 percent from 50.97 cents; and Type 316 at $1.0307, down 7.7 percent from $1.1163 per pound. Bucking the trend was Type 430, which contains no nickel, which is being increased 9.1 percent to 21.69 cents per pound from 19.88 cents this month.
The companys previous 2012 low for 304 and 316 material, the two most widely bought stainless grades, came in September at 73.62 cents and $1.0396 per pound, respectively.
Distributors recently expressed caution on buying due to the expected fall in surcharges (amm.com, Nov. 2).