After a brief increase in September, the price of stainless steel ffat products in the United States resumed its downward trend in October. Even though the offfcial mill basis prices have not changed much this year, falling LME nickel values have been driving alloy surcharges down. This month, the transaction price of 304 cold rolled coil dropped to USD3,725 per tonne, which is USD604 less than it was in October 2022. For grade 316 cold rolled coil, the US alloy surcharge in November will decrease by a further USD370 per tonne.
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