January 2012 | Stainless Steels
Stainless prices lift – not on strong fundamentals, but on restocking: European Highlights
Inventories have been run down along the supply chain through a combination of slowing production and higher demand, which, while not noticeably lifting, is no longer easing.
Last September, there was a sense of anticipation for a lift in demand as the market returned after the summer holidays. A sense of anticipation that did not translate into a pick-up in orders or prices. Instead, purchasers looked at the weak demand evident for the second half of the year and sufficient inventories and kept their ordering low. Arriving in January, we have the same anticipation for order growth. However, this time inventories have been run down along the supply chain. This was achieved through a combination of slowing production at mills, including plant shut-downs, and higher demand, which, while not noticeably lifting, is no longer easing.
So, have orders in January lifted? Yes, but mainly in the middle of the supply-chain. Stockists have often felt squeezed from...
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