US stainless steel prices flat to lower in February

Stainless steel prices in the United States were mostly flat to lower month on month in February, despite reports that surcharges rose modestly and base prices were unchanged.

Orders for stainless steel products have surged recently after surcharges came down in January and service centers sought to build up their inventories, which had fallen to low levels in December, according to a Midwestern distributor. But this surge in demand is less significant than it seems, the distributor added. “The mills see their order books getting full and think they might put through a product increase. But I don’t think it is as bright as maybe the mills see it. It’s too early to put through an increase,” the Midwestern distributor said. A southern distributor reported strong demand in the region. “We are quite busy right now, particularly in energy, petroleum and chemical markets,” the southern distributor said. “Lead times...

Published

Robert England

February 11, 2020

23:07 GMT

New York