Price update, stainless sheet

By Staff -- Purchasing, 7/15/1999

The market for 304 grade stainless cold-rolled sheet is running this month in a range of 77¢-80¢/lb for domestic product, down from an average 81.5¢ at the start of the year. However, imports are still selling in a range of 67¢-71¢/lb (depending on supplier) even though punitive tariffs have been assessed against several major offshore suppliers. Market support for higher prices will be limited through summer. Reason: High inventories of cheap metal.

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