European stainless coil prices increase again

European stainless steel cold and hot rolled coil, sheet and tube prices are increasing again this month, market participants tell Kallanish.

European mills are quoting CRC for Q1 2022 delivery at €3,600-3,800/tonne ($4,232-4,467) delivered including alloy surcharges, depending on material quality and volumes. This price consists of an average base price from European mills at €1,600/t plus €2,000 in alloy surcharges. HRC is offered at €3,500/t delivered on average. Like last month buyers are not negotiating prices, instead focusing negotiations on delivery times. While some HRC of Asian origin can be found on the import market at €3,400-3,450/t cfr for larger quantities, there is shortage of CRC and no competitive imports are reported.

August has been a slow month for most of Europe due to the August holiday break. This is worsened by a heavy shortage of trucks and logistics disruptions due to the high import volumes of carbon coils, scrap and pig iron reaching Europe. In Italy, major steel ports such as Ravenna, Chioggia and Marghera are said to be congested, with trucks difficult to find as a consequence.

With import supply also impacted by safeguard quotas expiring from regions like Taiwan, coil availability remains tight, sources say.

Meanwhile, coil derivatives’ prices are also hiking significantly in line with stainless coils. Sheets and flat products however are increasing faster than tubes for which demand remains less lively. Stocks throughout Europe at distributors of flats remains particularly low in all European countries, Kallanish hears.

Natalia Capra France