Prices for stainless steel sheet in Europe are rising

Influenced by fluctuations in nickel prices on the London Metal Exchange (LME), stainless steel transaction prices in Europe rose last week.

After the first trading day on the LME on March 16, nickel prices fell for three consecutive days. However, European steel mills did not offer their new prices due to high production costs and volatile nickel prices.

According to the information, the supply of 304 cold rolled coil for Northern Europe has increased by 300-400 euros per ton compared to last week.

After a sharp rise, demand was not as good as expected. Buyers did not risk buying during this period of time and preferred to wait for a stable price.