EU stainless base prices 'could rise' by $23-58 per tonne in Q4, Acerinox says

A stainless steel base price increase in Europe of €20-50 ($23-58) per tonne is “achievable” in the fourth quarter of 2017, according to Spanish stainless producer Acerinox.

“We see a positive trend for the fourth quarter. The market is healthy, and the alloy surcharge has increased [for October and November],” Acerinox financial director Miguel Torres said during a conference call on Monday October 30. “We are not going to see the price rocket upwards, but we feel confident.” Acerinox’s lead times in Europe are currently at 6-8 weeks. Inventory levels in Germany, Europe’s largest stainless steel market, are currently at 60 days, down from 65 days in May, Torres said. The installation of a new €140 million cold-rolling mill and annealing...

Published

Viral Shah

October 31, 2017

17:53 GMT

London