EUROPEAN STAINLESS STEEL PRICES CONTINUE TO TUMBLE

EUROPEAN STAINLESS STEEL PRICES CONTINUE TO TUMBLE

EUROPEAN stainless steel prices fell, in February, because of weak demand, decreasing alloy surcharges and high import volumes from Asia.

In February’s edition of the Stainless Steel Review, MEPS reports that domestic selling figures throughout the region have slipped across flat and long products. Basis values have remained, largely, unchanged, but the negative trend in alloy surcharges marked down transaction values.

Market activity, especially in the energy sector, remained muted, in February. High import penetration of non-EU material continues to put downward pressure on local selling prices.

In the US, demand for flat and long products remains sluggish. However, domestic cold rolled coil prices increased slightly as local producers cut back capacity. Following a trade case announcement, in mid-February, imports from China are likely to slow down.

Falling input costs continue to have a negative effect on stainless steel prices, in Asia. Japanese and Taiwanese selling values reduced marginally, in February.

Source: MEPS – Stainless Steel Review – February Issue

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