Stainless steel coil prices in Europe are increasing again and achieving the level of €3,000/tonne ($3,673) delivered for cold rolled coil, market participants tell Kallanish.
Short supply and high prices have continued this month as stocks at flat steel distributors are said to be low and deliveries for coil and coil derivatives stretch in some cases to the first quarter of 2022. Demand for coil and flats is reported strong in all European countries. Despite the steady increases on coil, all buyers continue their purchasing as they are in need of material.
Coil offers from Asian countries have come down and the few import prices available are at European levels. While Chinese sellers are not quoting for Europe, Indian material is offered in very small quantities, traders confirm.
The main European mills are quoting stainless hot and cold rolled coil for December delivery. Prices have increased by a further €100/t on average compared to the beginning of May. CRC now starts at €2,980/t and may reach €3,000/t delivered, while HRC is at €2,900/t delivered depending on tonnage, sources say.
Values for coil and sheet are forecast to increase again in June on the material shortage. Demand for European coil remains strong from service centres and end-users, sources say.
Natalia Capra France
