With increasing demand for stainless steel an continued strength of commodities stainless steel prices look set to increase in Europe. The current outlook on surcharges is slight increase for grade 304 / 1.4301 slightly more for 316 /1.4404 possibly 70 Euro or 60 GBP. With Nickel close to the $20,000 per tonne mark and Molybdenum prices showing increases the figures announced next week by the leading European mills it would be surprise if the figures are not increased.

Beyond the surcharges there are rumours coming from the leading mills that base increases are expected to increase for new deliveries from April and announcement could be made as soon as the 1st of March, similar signs are coming from the US where Universal stainless announced increases this week of 5% , and similar increases in Turkey.

Scrap prices are also rising in Korea, Japan, Saudi and Spain. Although the stainless steel market may still be lacking the demand required to sustain strong gains the European mills having moved out of a terrible 12 months now feel the time is right to start to profit again from stainless steel.