EU duties on stainless steel imports would support alloy prices, producers, analyst says

Any imposition by Europe of import duties on stainless steel products from Indonesia and India would spur the domestic market, create additional demand for alloy and boost the ferro-chrome market - but the effects on prices may only be short-lived, according to Fastmarkets’ senior analyst.

It has been expected for some time that the EU will impose import duties on Indonesian and Indian stainless steel in the near future.
As a consequence, domestic European producers of stainless steel have reported increased demand for their material in a market that is very strong.
“This is good news, and we can see already the reaction. We have already taken stainless steel orders [to keep us busy] until January 2022,” one stainless-steel producer said. “The [European] anti-dumping legislation means that we expect to be operating at full capacity for the rest of this year. [Import duties would] support prices into 2022, at least.”
Additional strength in Europe’s stainless-steel sector would drive demand for feedstock materials, such as high-carbon ferro-chrome.

“Combined imports from India and Indonesia had grown to account for 20-25% of the EU’s entire imports of cold-rolled flat stainless steel recently, up from about 10-15% a...

Published

Jon Stibbs

May 24, 2021

19:20 GMT

London