Acerinox has announced to cut its alloy surcharge for 304 grade bright bars produced in October 2011 by EUR 109 per tonne from a month earlier to EUR 2,061 per tonne, considering to the slumped nickel prices.

It is known that most European stainless enterprises calculated the alloy surcharge on the average nickel prices at London Metal Exchange from a period of around 30 days from the previous month until the production.

Meanwhile, the nickel prices in three months delivery dropped to USD 20,700 per tonne on September 21st 2011 from USD 21,175 per tonne on September 20th 2011.

(Sourced from www.yieh.com)