June 2009 | Stainless Steels
EU flat mills push for third increase: European Highlights
With mills fully booked for June sales, consumers will have little option but to pay the higher prices
EU flat product mills have asked for a third successive €50/tonne increase for June deliveries, after having achieved the previous two increases. This takes base prices for 304 2mm CR coil to a minimum of $1,060/tonne ($1,485/tonne). With mills fully booked for June sales, consumers will have little option but to pay the higher prices, while surcharges have also risen.
The ability to pass through these increases is linked to the aggressive cuts in supply that the stainless mills implemented over the first quarter (and continued through the second) that we analysed in detail last month. With mills now largely sold out of July material, we would not be surprised to see mills push for another €50/tonne...
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