EUROPE STAINLESS STEEL: Domestic prices still under pressure from imports

Fastmarkets’ weekly price assessment for grade-304 cold-rolled (CR) sheets in Europe decreased by €15 ($17) per tonne in the week ending Friday October 5 amid continued competition among stockholders, which has resulted in ever more aggressive offers being heard in the market.

The Northern Europe domestic base price for grade-304 stainless steel sheets was assessed at €925-985 ($1,063-1,132) per tonne delivered on October 5, down from €940-1,000 per tonne the week before. A stock selloff began in late September when the market became aware that October alloy surcharges were likely to decrease substantially because of weak nickel costs. Stockholders with inventories of imported Asian material were therefore forced...

Published

Ross Yeo

October 05, 2018

18:54 GMT

London