Global stainless steel producer Acerinox, is currently seeing base prices for stainless steel increasing and consolidating in Europe and North America, the company says in its annual report.

For the second quarter, the North American unit of the group, North American Stainless (NAS), has announced a new price hike of 5-7% on base prices, effective for new shipments from April this year. The increase will affect all CR grades in 200 series, 300 series and type 430, the company notes in a release. In addition NAS will increase the base price of discrete plate by $0.02/lb.

In Europe the steelmaker is trying to consolidate the price increase announced at the end of 2016. Acerinox also notes however that a new price hike is possible.

Meanwhile nickel prices have begun the year by registering a new low, but have since recovered on the London Metal Exchange, despite still being below the highs seen in November 2016.

According to Kallanish indexes for Italian HRC and CRC stainless base prices, both levels are continuing the recovery started in Q2 last year and are currently at 30-35% above the levels of Q1 2016.