Search: News Price
Home |  Register |  Price Index  |  Publication |  Consultancy |  Data |  Events |  Enquiry |  Language
Mar.29.2024 1USD=7.0948RMB
  SteelHome >>Special Steel>>Market Info>>International Dynamics
 
US Stainless Steel Prices Drop, Outlook Muted

https://en.steelhome.com [SteelHome] 2018-12-12 11:24:27

share to social network site
Stainless steel prices in the United States have mostly declined in December, extending a downward trend largely stemming from a decrease in alloy surcharges that have weighed on transaction prices, market participants said.

Fastmarkets' assessment for Type 304 and Type 304L stainless steel cold-rolled sheet stood at $1.25 and $1.28 per lb respectively on Monday December 10, down by $0.04 and $0.03 per lb from two weeks earlier, while Type 316L stainless sheet declined by $0.07 to $1.68 per lb fob mill.

Fastmarkets' assessment for Type 304 stainless plate fell by $0.04 to $1.10 per lb, Type 304L stainless plate declined by $0.02 to $1.14 per lb and Type 316 stainless plate dropped by $0.04 to $1.59 per lb in the same comparison.

Market participants put lead times at three to four weeks.

"Base prices are stable and lower transactional prices are due to lower nickel alloy surcharges," a Midwest distributor said.

"Usually at this time of the year we would see lead times to February, but right now we see lead times stretching to January. Mills are just not rolling in orders," the Midwest distributor added.

"Things are pretty slow right now because Christmas is coming up," a northern distributor said.

"December stinks," a second Midwest distributor said of demand from consumers.

Looking ahead, market participants said they do not see any market influence justifying an increase in base prices.

"I do not have any sense of [a] base price hike for the first quarter [of 2019]," the second Midwest distributor said.

Buyers have become a bit more conservative in placing orders due to uncertainty over the outlook of the US economy in the coming year, market participants said.

The uncertainty comes from such issues as the US Section 232 tariffs and quotas, the US-Mexico-Canada Agreement (USMCA), potential fallout from a trade war with China and a change in the US Congress after the midterm elections on November 7, they said.

General Motors Co's planned realignment of output at five North American plants - four in the US and one in Canada - has also caused concern in the stainless steel market.

"The GM announcement is nonsense. It disrupts the supply chain and affects Tier 2 and Tier 3 suppliers," the first Midwest distributor said, adding that he did not expect stainless demand to rise in January or February.

source: fastmarket
Related News
上海市通信管理局
沪B2-20040629
Copyright© 2004-. SteelHome.com. All Rights Reserved
Shanghai SteelHome Information Technology Co., Ltd    Tel: +86) 021-50585733, 50585358    Fax: 021-50585277