As reported in early June, stainless steel prices in the United States remain exceptionally high in comparison with those in the rest of the world.However, the price disparity started to narrow in July.The difference in transaction values between the MEPS figures for the United States and Europe average, for grade 304 cold rolled coil, peaked at US$1867 per tonne in June.This will result in a reduction of at least 20 percent in the price differential between the United States and Europe, from its high point in June.Therefore, it is likely that the price gap with Europe will close even further, in the near term.
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