MARKET DEVELOPMENTS STAINLESS STEEL FASTENERS AUGUST 2021
We receive questions on a regular base from our partners concerning the price developments of stainless steel fasteners. A Logical consequence... considering the ever fluctuating market movements! Important stakeholders such as banks and manufacturers make forecasts, but often they don't get it right. Which external influences are important? When is a perfect time to place an order? What is currently going on and which forecasts can be made? To answer these questions our CCO Dennis Steegman will share his vision on the stainless steel market on an monthly base.
What is going on this month and what can be expected?
Normally I keep quiet during the summer break. This time I report once again in written form and a lot is going on. We see that several components of stainless steel are still rising explosively: Especially Nickel, Chromium and Molybdenum! If we look at the average price increases from January until now we see the following:
- A2/aisi 304: ca 70% increase!
- A4/aisi 316: approximately 65% increase!
Added to this, of course, is the increase in container traffic. The expectation was that we would see a stabilization in recent months, but unfortunately nothing is further from the truth! An increase has taken place again. The prices of transport are influencing the cost prices negatively.
The demand for stainless steel currently exceeds supply. This results in further price increases but unfortunately also increasing delivery times.
The conclusion is that no improvements are yet in sight. Delivery times are increasing and the upward price trend will not be broken in the coming months.
