EU stainless steel market overview

According to MEPS, purchasing activity for hot rolled stainless steel has slowed down in Germany as the summer vacation period approaches. Sellers predict that if nickel prices remain high, customers will start buying more substantial tonnages in mid-August. European factories are divided over the idea of ​​raising prices for shipments in September. Demand is good in Italy, but imports from Asia have significantly increased the amount of cheap material in service centers inventories.

In Europe, local mills are trying to raise prices for cold-rolled steel in small steps every month. No progress, however, was seen in Germany in July, as orders from European factories are slow to fill. In France, service centers now rely on inventory for most of their purchases, due to the annual closure of local manufacturers. Italian distributors are keen to raise base prices, but they face competition from the factories' own service centers. Imports from the Far East are available at a much lower price than locally produced material.

Signs of increased commercial activity are found in the United Kingdom, after a very calm period. However, uncertainty persists after the Brexit vote. Cold-rolled steel slightly increased in price in July, which allows to offset the weakening of the pound sterling against the euro. In Spain, end-user purchases are slightly lower than in June, but still satisfactory.

Stainless steel prices are stable in France, but progress is forecast for shipments in September. EU producers are looking to raise benchmark prices in the coming months. Delivery times are delayed, but the factories are still not operating at full capacity. End users demand immediate delivery, so they rely on finished goods inventory.