Don’t take this to the bank yet, but it looks like 303 and 304 down a penny and 316 up a couple in July compared to June. Outokumpu has published the stainless bar alloy surcharge, waiting for other mills.

Even more importantly . . .

Nickel Average for Calc Period                   18,788

Nickel at Present                                           18,350

This the result of sharp declines during the calc period, from a beginning value of $19,670 to a present of $18,350 (a 6.7% drop during the calc period). The takeaway on this is that we would likely expect substantive drops for August, as the current nickel is 2.3% UNDER average for the current calculation period.