According to report, four major US domestic stainless steelmakers announced to hike prices starting for August shipments. And it is expected there will be another rise for October shipment again. The domestic grade 304 cold rolled coil prices increased to US$121 cents/lb.; 316 prices rose to US$176 cents/lb. and 430 prices were up to US$76 cents/lb. ex-mill from Midwest mills. The price hike is necessary for steelmakers as the alloy surcharges dropped for the fifth month in August. But price rise is not still about 3~5% lower than the current estimation.
Source:
http://www.yieh.com/2.2.01.01stainlesssteelnews.aspx?no=65799&division=A1
