MEPS (International) Ltd., a provider of steel purchase prices and forecasts, said that the average price of stainless steel in North America declined due to the impact of lower surcharges. Most of the purchasers took a wait-and-see attitude with the consideration of unstable stainless steel prices.

The sales volume of stainless steel in North America was expected to be in a downward trend by the end of this year. However, the prices in the first quarter next year was predicted to be raised as the low market inventories will lead a recovery in market early next year.

In addition, the prices of non-ferrous metals were forecasted to rise due to the demand recovery from industries and the eased China-US trade war in the second half of next year. Therefore, the price of stainless steel products might be increased further.