Uncertainty about both the domestic and global economy is making US stainless steel distributors very wary about building up their inventories. While base prices have moved up and are likely to move up further in October, raw material surcharges, which make up the largest portion of austenitic transaction prices, look like they could bounce along the bottom for the next few months at least. In fact, they slipped a few percent in October and we would not be surprised if they are flat to slightly down in November as well with nothing on the horizon indicating that nickel prices will see an appreciable increase.
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