Sweden engineering steel specialist Ovako has raised five out of six of its alloying element surcharges for its hot rolled bar for May. It has also increased its scrap surcharge for May from the previous month, Kallanish notes.

Ovako’s nickel surcharge rises again for May to SEK 869/tonne ($105.1/t) per 1% alloying element by weight from its April value of SEK 839/t per 1%. (The conversion rate used is that given by Ovako of SEK 1 = $ 0.121) This is the ninth straight month of increase. The surcharge for chromium rises again for May by 3.35% to SEK 247/t per 1%. Manganese upticks very slightly, by SEK 1 month-on-month to SEK 69/t per 1%.

The alloy surcharge for vanadium continues to surge by 16.7% in May following the increase of over 20% for April, to SEK 5,453/t per 1%. The surcharge for this alloying element is now nearly four times what it was in May 2017 (SEK 1,402/t per 1%).

The surcharge for silicon sees the only fall for May, by only -0.74% m-o-m to SEK 135/t. That for molybdenum rises again for the seventh month in a row, but only by 5.9% to SEK 2,098/t per 1%, following three months of double-digit increases.

The steelmaker’s scrap surcharge for May also rises from April by 3.6% to SEK 2,658/t. All surcharges apply from 1 May, the company confirms in its listings.

These surcharges apply to deliveries of hot rolled bar only, from Ovako’s sites at Smedjebacken and Boxholm, and Hofors and Hällefors in Sweden and from Imatra in Finland. Surcharges vary for other products from Hofors and Hällefors including bars with different finishes, and tube and rings.