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Europe stainless flats prices, alloy surcharges set for October decrease
Hot and cold rolled stainless coil prices are forecast to lose approximately €100/tonne ($113/t) in October compared to September. This is in line with the fall in European alloy surcharges foreseen for October and the current low demand for stainless steel products, market sources tell Kallanish.
The downward October projection for alloy surcharges of €980/t is confirmed for the moment, at least. “The stainless market in Europe is uncertain and nervous, especially now that nickel prices are below $10,000/t. We have absolutely no visibility into the near future and clients have a negative approach,” an international sales manager comments.
Base prices are stable compared to August, losing only €10/t on some flats and for some mills. The level of stocks in Europe for flat products is comparatively high due to improved purchases in June and July when customers wrongly believed that prices were close to bottoming out. August was a “… disastrous” month for European consumption of stainless steel products and purchases so far have not picked up, sources comment.
At the moment the base delivered price of stainless HRC on the spot market in Italy, France and Germany, is pegged at €1900-1920/t ($2,150-2,172/t) delivered. CRC prices are in the range €2,120-2,150/t delivered. Prices vary depending on quality and volumes, sources suggest. The ex-works price of a 2mm stainless sheet is stable at €1,040-1,070/t base + extras, sources reveal.
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Anonymous
Very good overview of the weekly steel market.
Anonymous