Cost for alloying materials for stainless steel alloying to rise by at least 30% in 2021
Global ferroalloys markets have seen record price growth since the beginning of this year, affecting all market segments. During the year, price growth has been supported by both fundamental factors - including a rapid recovery in consumption following the end of the pandemic - and several local developments.
Suppliers, who have long experienced all the difficulties associated with lockdowns, reduced consumption, delivery delays and so on, are now using any justification to increase prices.
Stainless steel manufacturers are facing a sharp rise in production costs in 2021, driven not only by unprecedented price rises in the basic raw materials of iron ore and scrap, but also by higher prices for the vital elements - chrome, molybdenum and nickel. Based on the Metalshub marketplace, ferromolybdenum prices in the European market more than doubled year-on-year by September 2021, while ferrochrome prices increased by 60% and nickel by 30%.
Metalshub continues to expand its range of ferroalloys and metals price indices based solely on real contracts for accurate and reliable market price coverage. New aggregate indices have recently been launched, reflecting the cost of a basket of alloying elements (Ni, Cr, Mo) for the most demanded 304 and 316 stainless steel grades. The indices include a weighted value of the alloying elements in the steel, according to the basic content of these elements in the respective steel grades.
About the Metalshub Price Index.
The Metalshub price indices are solely based on real transactions, bids and offers from the digital Metalshub platform, which is a fundamental shift in price reporting. The information is collected automatically without any journalistic work, e.g. telephone calls to market participants. This methodology minimises the risk of price manipulation and ensures a more robust picture of real market prices.
Written by Alex Andreev
The Metalshub basket stainless steel alloying indices are availble for free. Register now to accessAccess basket indices