Stainless distributors remain cautious

Aug 06, 2012 | 12:56 PM | Thorsten Schier

Tags  flat-rolled stainless, 304 cold-rolled sheet, stainless surcharges, Thorsten Schier

NEW YORK — Flat-rolled stainless steel distributors have vowed to remain cautious with their buying as raw material prices are still declining.

"I’m still pretty careful with my inventory," a source at a southern service center said.

The cash nickel contract on the London Metal Exchange has averaged $7.13 per pound during the first 11 days of the September surcharge calculation period, about 4 percent below the average for August.....

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