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摘要

US coil prices remain under severe negative price pressure. The mills are discounting the September alloy surcharge - resulting in a notional basis figure down by 240 US dollars per tonne for grade 304. Further official alloy surcharge reductions are expected next month. The mill depots continue to have large stock levels. Hence, customers are reluctant to place forward orders. The plate business is much stronger than coil. Nevertheless, small notional basis price cuts have occurred as transaction agreed values move lower due to the nickel surcharge decreases. Japanese hot rolled coil and plate prices in September fell dramatically. The mills slashed values in an effort to drum up business after very slack order intake in the Summer. At the same time the steelmakers drastically cut production. Output was also curtailed in South Korea. The mills reduced selling prices as orders dried up - with a 13 percent cut in August and another KRw500,000 decrease for September.