EUROPE STAINLESS STEEL: Prices unchanged but market bracing for downturn

The price of stainless steel in the domestic European market was unchanged in the week ended Friday March 13 amid stable market conditions, but participants were bracing for a substantial downturn driven by the measures to contain the outbreak of 2019-nCoV coronavirus, sources have told Fastmarkets.

“So far… demand is unchanged, but a decrease might come,” a Scandinavian distributor said. “Can we compare this with [the global financial crash of] 2008? It’s too early to say, but we’re acting carefully.”

The distributor said that...

Published

Ross Yeo

March 13, 2020

18:18 GMT

London