The inventory level of American stainless steel industry is very low
Date：2021-08-07 Views：6837
American manufacturer Otto kunp and North American stainless steel company have been trying to match production with demand. The purchasing manager is now placing an order for delivery in the last months of this year.
Market participants reported that unprecedented circumstances had led a U.S. steel plant to breach contracts with certain customers for orders due from July to September. NASs declaration of force majeure caused additional panic, although it lasted only a few days because it was quickly revoked.
It is reported that many service centers and distributors have not purchased goods until later this year. Due to the extremely limited goods available at home, some buyers have begun to purchase in large quantities from overseas suppliers. However, imports are hampered by inadequate container supply and high transportation costs.
The severe shortage of materials on the market continues to drive up prices. Since the beginning of 2021, American stainless steel manufacturers have repeatedly reduced the list price discount of cold rolled materials. Therefore, since January this year, the base values of 304 and 316 cold rolled in the United States have increased by more than 20%. In addition, the additional price of steel mills has also increased.
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