MEPS NORTH AMERICAN COMPOSITE STAINLESS STEEL PRICE DOUBLES YEAR ON YEAR

The MEPS North American composite stainless steel selling figure has climbed significantly since the beginning of 2010. Rising raw material costs, coupled with growing demand has helped mills to push through price hikes for all product categories. Transaction values are expected to climb further in June.

FLAT PRODUCTS

There has been a slight increase in activity in the US. Many customers report that their business is picking up and funding for some new projects is anticipated. Domestic manufacturing output is expected to return to something like normal levels during the course of this year. This should have the by-product of increasing stainless scrap availability, which could, in turn, reduce the price of scrap and, possibly, nickel.

Demand from the automotive and white goods sectors in the US is steady. Several producers have announced basis price hikes but these have not been readily accepted. Indeed, some buyers are delaying purchases, where possible, due to the inflated current surcharges. Consequently, sales volumes are expected to remain low through to the summer.

LONG PRODUCTS

Most supply chain participants in the US are carrying minimal inventories, to limit their exposure in case transaction values start to fall. Distributors have, therefore, had to increase their purchases recently to meet their customer’s requirements. Observers predict a traditionally slow summer period. Several leading producers have announced basis price increases, effective for deliveries from July 1.
 

Source: MEPS - Stainless Steel Review - click here for a free sample copy.

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