Coil business is quite brisk in the US. Offers out of Asia are more numerous but not aggressive. Wide plate supply is particularly tight and lead times extended. Transaction prices for all hot rolled products are slightly lower this month because of a dip in July alloy surcharges - 16.7 and 16.0 percent for grades 304 and 316 respectively. Japanese transaction values are steady, following the June increase. Domestic availability remains restricted and inventories are quite low. Sales to the construction sector are weaker. South Korea's Posco raised domestic prices to cover increases in raw material costs. The market remains overstocked.
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