EU STAINLESS STEEL
MARKET ROUNDUP FROM MEPS
Stainless hot rolled coil and plate demand is
weak in Western Europe. The market has been subdued, in Italy, since
the end of the summer holidays. Market basis figures have slipped,
despite the efforts of some EU mills to lift them.
The UK plate market continues to subside. Business has failed to
pick up following the summer vacation period. With the price
believed to be close to the bottom of the current cycle, the subdued
buying activity suggests a lack of confidence in future demand.
Post-holiday purchase volumes are also poor in Spain and transaction
values keep falling.
Buyers in Western Europe comment that the effect of the EU
antidumping measures against cold rolled material from China and
Taiwan has been dampened by excess production capacity and poor
demand in the region. There have been small reductions to domestic
basis numbers, for this product, in Italy.
Sales activity for cold rolled coil was higher than expected, in
September, in the UK but has dropped off substantially since then.
Demand is poor – described by one market participant as “like a
recession”. The antidumping measures are failing to have a positive
effect on local selling values in Spain.
Source: MEPS -
Review - September Issue
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