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Following recent strengthening of Nickel prices on the LME surcharges for September stainless steel deliveries are expected to rise. With the current price levels of Nickel this should result in around 50 GBP ( 61 EURO) increase for 304 (1.4301) and around 75 GBP (91 EURO) for 316 (1.4404). You can see an extract from the Wall street journal that may shed some light on the background to the increases and potential outlook

Taiwan's two major stainless steel makers continue to limit output as a result of poor sales tonnages. Tang Eng is running its Kaohsiung works at around 60 percent of its capacity, while Yusco's crude stainless outturn for July will be 10,000 tonnes down on the May figure.

After years of seeking a cost-cutting merger in stainless steel, ArcelorMittal is giving up the fight and says it wants to spin off its activities instead.