Stainless steel prices rose slightly alongside March surcharges, although many buyers are holding off in anticipation of lower tags in April, market participants said.

The price increases were largely in line with higher March surcharges from the major products, market participants said.

Business has improved slightly since the start of the year, but still hasn’t reached its pre-November levels, market sources told AMM.

It seems to be improving a little bit as compared to the 4th quater of 2012, but that was an absolutely dismal period,” a third distributor said. “The general market is soft. There are still some buyers that are very uncertain about what the year will hold fo them, and they’re adjusting their purchases accordingly.”

His overall assessment was gloomy. “I think it will be a tough year,” he added. “I don’t see anything on the horizon to suggest it will get better.”

Excerpts from American Metal Market March 11, 2013