Falling nickel prices force ATI to trim US stainless surcharges for June
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ATI Allegheny Ludlum Corp has lowered its stainless surcharges for June on the back of falling nickel prices. Ludlum, part of Pittsburgh-based Allegheny Technologies Inc (ATI), set its June surcharge for Type 304 product at 84.86 cents per pound, down 2.9% from 87.43 cents this month; Type 201 at 57.66 cents per pound, down 2.2% from 58.98 cents; and Type 316 at $1.2307 per pound, down 2.9% from $1.2674 per pound. The surcharge for Type 430, which contains no nickel, will be 27.80 cents per pound, up 0.4% from 27.68 cents.
The cash nickel contract on the London Metal Exchange averaged $7.88 per pound during the surcharge calculation period, down 3.4% from the prior month.