The stainless steel demand in Europe has been quiet in the past week. The supply chain profits have been very tight. Therefore, the selling price has not changed much.

Due to the impact of the COVID-19 on the global economy, the stainless steel demand was quite sluggish. Dealers pointed out that recent orders were 20-25% lower than expected and buyers could not accept high offers.

Now steel mills and distributors are struggling between low demand and rising nickel costs. Although both are struggling to increase transaction volume, they have been unable to offset the costs to end buyers. Distributors said that the current supply chain profits are very tight.