April 2012 | Stainless Steels
Market static on low buying activity: European Highlights
It is not just that prices have eased, but that orders have largely dried up.
With the Easter holidays earlier this month, Europe had lost several days trading. However, this does not explain the extent of the weakness seen this month. Hopes that the stainless industry would see a steady and growing demand picture market of the year have evaporated. The first quarter offered some promise of restocking and a slight pick-up in sales. April and May shows that this has not run its course.It is not just that prices have eased – more on the back of alloy surcharges falling than base prices – but that orders have largely dried up. Activity is unseasonally light. Some of this can be put down to the alloy surcharge coming off, and purchasers expected another month of cuts. Some could also be because of the Easter holidays, with many traders making a week of it. However, the majority must be...
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