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European stainless steel prices have short-term bounce

31 Mar 2020 16:31 reported by Joy Liu

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The novel coronavirus epidemic seriously impacted the demand for automotive and home appliance industries in Europe; however, market participants predicted that they will face a supply shortage in the near future after all Italian industries suspended their production, so the domestic stainless steel prices have hiked in the past week.

Most steel mills outside Italy still kept producing, but the order volume of stainless steel scrap had an obvious decline, showing that some stainless steel mills might get ready to reduce production and the stainless steel prices might be affected in coming future.

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