Q1 2022 Metal Pricing in a Volatile Market

The market for first quarter 2022 has been volatile and now with the attack on the Ukraine it could get even more volatile should crude oil prices increase, but here is what we know thus far.

• Nickel is up over 33% since August 2021. It is now over $11/lb.

• Oil hit $100 per barrel.
• Aluminum is trading at a new record high last set in 2008.
• Mills continue to be overloaded and a new round of base prices have been released.
• Global logistics are still a mess where there are still major delays for imported raw and finished goods.
• EU mills have instituted an Energy Surcharge in addition to raw material surcharges. These are in the $.15/lb. range.
• Container costs from India and China remain high; an export tax 232, Section 301 is till in place for Chinese export.
• Strength in worldwide stainless usage remains strong. LME stock levels are low.
• Continued growth of electric cars is strong.
• See below for Alloy surcharges and increases.

What does this mean for Western Steel & Wire?

We encourage booking future orders by looking ahead to ensure product availability in the second half of 2022. We ask that you look for at least six to nine months projections when considering advanced ordering.

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