European stainless coil prices increase again

European stainless steel coil prices have increased again by €100/tonne ($121) compared to the beginning of February. They are likely to rise further in March due to strong demand and severe supply shortages, market participants tell Kallanish.

The main European mills are selling for July and August delivery. Stainless hot rolled coil is now at €2,500-2,600/tonne delivered on average. Cold rolled coil is at €2,700-2,800/t, sources say. The large gap between prices comes from differing delivery times. The shorter the lead time, the higher the price, sources say.

Stainless coil increased by as much as €500/t compared to December and the current material shortage is seen persisting. However, in May the EU will decide on the extension of stainless CRC duties from India and Indonesia. Buyers hope the market will be opened as procuring material is becoming so challenging that service centres and re-rollers are forced to purchase from their competitors’ stocks, Kallanish is told.