June 2018 | Stainless Steels
Market awaits trade investigation decision: European Highlights
At present European mills continue to face headwinds and are having to keep an eye on overall transaction prices as they get pulled upwards by rising alloy surcharges.
With the slower summer season approaching and market participants increasingly expecting little change in ferrochrome prices for Q3, it appears as though Europes stainless steel market is on hold at present. For sure, alloy surcharges on the most common grades of stainless steel are set to rise again in July as expected, and may even increase again in August but, with base prices continuing to be discounted, effective transaction prices are only increasing slightly. We estimate that average transaction prices of grade 304 sheet will come in at around 2,670/tonne for July deliveries, up by some 115/tonne from June price levels. A further 40-50/tonne increase is expected in August.
But while prices continue to increase on the back...
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