Stainless Steel Prices Trend and Forecast

Stainless Steel prices in the US market remained stable in Q1 2023 due to steady demand from the construction industry, despite the financial turmoil in the US banking industry. Mill margins were under pressure due to rising input costs and the use of more scrap in furnaces. Stainless steel inventories were slow to deplete despite a significant drop in imports, and cautious buyers kept mills open to individual, non-contract negotiations. Multiple buyers were going through order books to decide how to approach buying over the next few months, as many were concerned that pricing could peak and fall off in the late second quarter and the second half of the year. As a result, SS 304 HR Plate prices for Ex Texas settled at USD 3990/MT.

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