Forecasts and market analysis based on price assessments from Fastmarkets MB and Fastmarkets AMM

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October 2019 | Stainless Steels

Calm before the storm?: European Highlights

Back in late 2008 the discounts on scrap arrived as Europe’s stainless steelmakers brought forward winter maintenance programmes in the face of extreme uncertainty regards the global economy.

Alloy surcharges on grade 304 stainless steel were increased by an average of around €170/tonne during September and by a similar amount again for October deliveries. Despite these announced increases totalling almost €350/tonne, however, overall transaction prices on grade 304 material (cold-rolled sheet, 2mm) are more or less the same as they were during late August, at around €2,325/tonne (delivered northern Europe).

This implies that the market remains firmly in favour of buyers, which continue to secure large discounts on any purchases that they make.

And evidence of the stress that this is putting on producers can in turn be seen in some of the markets for raw materials. We highlighted last month in our analysis of scrap prices (see Scrap highlights for more details) that the discounts being...


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