304 CR base price from Europe to Asia for May shipments has risen again to USD 5100 to 5300 per ton from April’s USD 5000 to 5200 per ton deliveries. The high price of nickel, USD 52,375 highest, and landed around USD 50,000, according to week 16’s LME closing, has added to the aggravation that the stainless market is currently going through. Nickel has in fact been the only factor in driving up today’s stainless steel prices. Global mills are still “discussing/planning” another price hike in May for the fifth time, after raising monthly stainless prices four times in a roll since January.
