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European stainless makers cut domestic base prices
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It’s reported that the European stainless steel mills reduced the domestic base prices for stainless steel flat products by €10~US$€20/ton.
At present, the quotes of 304 grade cold rolled sheet produced in August are at €1,060~€1,090/ton, lower than €1,080~€1,100/ton offered in a week earlier.
Distributors pointed out that the falling price was caused by the weak demand and they predicted that the demand would remain weak in the short term.
Meanwhile, some European steel mills have postponed production for maintenances during the summer period. Thus, the transaction volumes are few.
News Date
8/16/2012 8:09:01 AM
reported by
Tammy Chien
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