American Metal Market’s assessment of Type 304 cold-rolled sheet was flat at $1.22 per lb on Monday November 27, with Type 304L and Type 316L stainless cold-rolled sheet steady at $1.24 and $1.565 per lb respectively.
Buyer sources have agreed that the November base price increase by major stainless mills was accepted by the market
but their prices implied that it didn't fully stick.
“The price stuck but when [distributors] have extra inventory they sell it below that price... The mills generally are sticking to their guns and they’re getting [those prices],” a northern distributor said.
“New orders placed after November 1 caught the price increase,” a midwestern distributor said.
“The base price is 100% sticking,” a southern distributor said.
But the midwestern distributor...