Demand is fair, in the United States. Day-to-day business is quite soft, but sales to projects and contract customers are improving. Delivery lead times for commodity grades are very short. Stockists’ inventories are a little high, especially considering the purchase cost of the material. Basis prices are unchanged, again, this month. Bar values increased, in February, in all the East Asian countries surveyed. This was due to the rising cost of raw materials - notably, molybdenum. However, weak demand has recently been putting negative pressure on prices in China.
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