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Towards the closure of Q4, the Stainless Steel Round Bar prices showcased a declining trend in the US market owing to the higher inventory level and limited downstream demand outlook. In October, the downstream buyers remain observant of drawing down inventories across all products through the end of the year. With falling scrap prices, mills had tried to remain competitive with import offers as downstream demand from new projects had not warranted additional spot buys or bookings of more significant imports, along with rising financing costs. Participants in the US Stainless Steel market were optimistic about the new year, but spot prices remained lower than they were during the previous summer and fall seasons. This winter's activity has slowed significantly, but downstream work appears to be picking up for next year.

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