Europe: Stainless steel producers revise Aug’26 surcharges amid mixed alloy cost trends

• 304 surcharges decline across major producers
• Surcharges for 430 grade kept largely stable

Major European stainless steel producers Outokumpu, Acerinox, and Aperam have announced their August 2026 alloy surcharges, with benchmark 304-grade surcharges declining across all three producers in line with weaker nickel prices. Meanwhile, surcharge movements for higher-alloy grades remained mixed, reflecting changes in molybdenum and other alloying element costs.

Outokumpu revised its August alloy surcharges lower, with 304 (EN 1.4301) set at EUR 2,228/t, down EUR 118/t m-o-m, while 316L (EN 1.4404) declined EUR 111/t to EUR 3,992/t. The surcharge for 430 (EN 1.4016) remained unchanged at EUR 1,101/t. The company has an annual melt production capacity of 2.55 mnt and strip capacity of 1.6 mnt.

Acerinox also reduced August surcharges for its key austenitic grades. The 304 surcharge fell by EUR 106/t to EUR 2,152/t, 316L declined by EUR 82/t to EUR 3,932/t, and 201 (EN 1.4372) eased by EUR 34/t to EUR 1,866/t. In contrast, the 430 surcharge increased by EUR 15/t to EUR 1,057/t. Acerinox operates a melting capacity of 3.5 mnt/year.

Similarly, Aperam reduced its 304 (EN 1.4301) surcharge by EUR 123/t to EUR 2,216/t, while 316L (EN 1.4404) increased by EUR 109/t to EUR 3,980/t, supported by firmer molybdenum costs. Aperam has an annual stainless flat steel capacity of more than 2.5 mnt across Europe, South America, and Asia.

Outlook

The latest surcharge announcements indicate that weaker nickel prices continued to pressure 304-grade stainless steel surcharges across Europe, while 316L pricing remained supported where higher molybdenum costs offset softer nickel values. Going forward, further surcharge revisions will depend on movements in nickel, ferrochrome, and molybdenum prices, alongside demand recovery across the European stainless steel market.