Base prices for stainless steel flat products in Europe are either remaining steady or weakening depending on the product. This is so despite high alloy surcharges for June and market projections of more hikes in alloy surcharges, Kallanish hears from European market sources. 

Prices vary significantly depending on buyers’ order quantities and sellers’ stocks. HRCs are fetching €1,970-2,030/tonne ($2281-2350/t) delivered in June. CRC meanwhile, with prices positioned between €2,200-€2,300/t delivered on average in May, is being sold this month at €2,180-2,220/t delivered, sources say. Spot prices for both stainless HRC and CRC are supposed to be at least €200/t higher than current values due to higher alloy surcharges, a source says.

Mills in Europe are quoting short delivery times and some are said to be in the process of completing July orders while only one mill has completed August. Following unreliable demand from the distribution sector, mills have decreased base prices by around €100/t for their products compared to the end of last year.  

Sources suggest that third country imports are having a dampening effect on prices (see Kallanish passim). In 2017 over 900,000 tonnes of stainless steel coils were imported from non-European countries.