Prices for stainless and carbon steels have fallen in the U.S. the past two months, according to extensive data on metals prices from MetalMiner®. The Stainless MMI fell 2.9% November to December. And though part of the issue is a revision of the market basket the Stainless MMI uses, the index has dropped nearly 20 points and more than 20% since hitting a high in June. U.S. nickel surcharges for both 304 and 316 stainless grades have also been falling. MetalMiner expects stainless prices to remain restrained in 2019 as the supply of nickel worldwide is on the rise.
Raw steel prices are also running lower, with a 4.9% decline in the Raw Steels MMI November to December.