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European stainless steel market rebounds

17 Jan 2008 17:38 reported by Margaret Yeh

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European stainless steel mills indicate that after a series of stock adjustment actions, the base price of stainless steel has increased and the alloy surcharge has decreased.

The European stainless steel flat product market is gradually returning to normal. The mills’ orders are gaining in strength now.

Current base price for 304 CRC is €1,050/ton, up by €80/ton compared to December’s €980/ton. This price rise action could be the result of mills wanting to make up for their summer losses. Prices may keep increasing over the next few months.

At the same time, larger European stainless steel companies have decreased the alloy surcharge from €1,884/ton in December to €1,595/ton in January.

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