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US’ stainless steel prices driven by tight supply

4 Aug 2021 16:23 reported by Joy Liu

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The current US stainless steel inventory is at a low level. The production failed to catch the rapid rebound of steel consumption after the impact of the COVID-19 epidemic, leading to a serious imbalance between supply and demand.

It was understood that there are almost no materials available in the US market, with delayed delivery of a couple of weeks from domestic suppliers. Many buyers turned to import, but the delivery was also blocked by the shortage of containers and high shipping costs.

Therefore, the US stainless steel market is facing continuously rising prices under such a tight supply. Up to now, the base prices of both 304 and 316 cold-rolled steel have risen by more than 20%.

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