US negotiated basis prices are the same as in May. Alloy surcharges for grade 304 are up by 1.8 percent, whilst those for type 316 have moved down by 1.2 percent. They will be higher, for both specifications, in July. The Summer holidays are fast approaching and, therefore, the market has started to slow. Stockists are cutting inventory levels in preparation. There are concerns that Asian producers may target the US in the Autumn. Despite higher nickel costs, Japanese suppliers have not tried to lift coil prices, having taken the current poor supply/demand balance into consideration. Plate figures are also unchanged. Plate consumption in South Korea continues to be healthy. However, domestic sales of strip to both end-users and stockists are in decline. Posco has cut the price of type 304 material by up to 11 percent to try to stimulate demand.
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