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European stainless steel mills resist price downward pressure

18 Jun 2019 15:16 reported by Alston Tsai

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Currently, full of influencing factors were in the EU market, but European steel mills were fighting against price cuts, and its offer for stainless remained flat this week.

The main cause was unstable political situation in Europe, which has caused consumers' insufficient confidence. Besides, dropping alloy surcharge of stainless was another factor.

Market participants said that off-season this year came earlier than the previous years, leading to a decline in market demand. However, local steel mills believed that its profit has been unreasonable and they were not willing to cut prices significantly even with the above mentioned factors.

In addition, the imported stainless steel from Arian countries will still put pressure on EU mills' sales.

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