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Home > MEPS Steel News - 06.03.2013

NORTH AMERICAN STAINLESS STEEL PRICE FORECAST FROM MEPS

MEPS – North American Average Stainless Steel transaction values decreased for all products in February. Steelmakers were unable to hold onto basis advances secured at the end of 2012 because of poor demand and overcapacity in the market. Increases in alloy surcharges offset some of these decreases. Mill delivery lead times remain very short.

Overcapacity and weak demand in the US market will, almost certainly, restrict the potential for basis price advances over the next few months. Buyers are expected to keep purchasing to a minimum due to continued uncertainty about the price movements of nickel. Nevertheless, transaction values are forecast to increase in the short term due to small anticipated rises in all raw material costs and a reduction in import pressure from Asia. Stainless steel selling figures are expected to slip during the summer for seasonal reasons. Despite negative market conditions, MEPS expects a modest price upturn in 2013. This will reverse the downward trend recorded over the last two years.

Source: MEPS -
Stainless Steel Review

Also See: MEPS North American Stainless Steel price table

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