According to news from foreign media on February 24, due to rising prices, US stainless steel imports in January increased by more than 38% from the previous month. Both stainless CRC and HRC imports increased. Because low-priced imports are more attractive than domestic offers.
Traders in the market said they expect shortages in the supply of light gauge steel and ferritic stainless steel, especially in the second quarter of this year.
In addition, US stainless steel producers announced their alloy surcharges for March. Mills expect stainless cold-rolled coil prices to rise due to higher prices for raw materials such as molybdenum and chromium.
However, most market participants said price increases would not be sustained after the first quarter due to economic pressure from U.S. rate hikes
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