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Home > MEPS Steel News - 07.10.2015

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 - Stainless Steel Review - September Issue

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