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Paragraph entered by Atlantic migration, in order for SteelFirst articles to display correctly on Metal Bulletin.
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.