European stainless steel distributors are bracing for a difficult summer, with prices falling further in June amid slow demand and continued import competition, sources told Fastmarkets in the week to Friday July 4.
“I don’t think I’ve ever seen such a difficult period that lasted so long,” a distributor in Italy said. “Prices have undergone a constant and continuous accelerated downward motion without any type of friction or opposing force to counteract the fall.”
Fastmarkets’ monthly price assessment for stainless steel cold-rolled sheet, 2mm, grade 304, transaction domestic, delivered North Europe, was €2,350-2,420 ($2,755-2,837) per tonne on July 4, down by €50-80 per tonne from €2,400-2,500 per tonne on June 6.
Since the start of 2025, consumption in key stainless steel end-user markets has failed to improve, leading distributors to adopt a wait-and-see approach until after the summer, which is traditionally a slow period for sales.
“The news is more negative than the real situation. We have had such difficult periods in the past, too,” a distributor in Germany said. “If you look at the first six months of the year compared with last year, sales and margins are low, but in the end, everyone is moving forward. Maybe there will be positive signs in the autumn.”
While cheap imports from East Asia have continued to put pressure on prices, the weaker dollar helped alleviate some of the pressure.
On July 4, €1 was equivalent to $1.18, compared with $1.14 on June 6, according to Fastmarkets’ currency converter. This means that, in dollar terms, the assessment for grade 304 stainless steel cold-rolled sheet on July 4 had narrowed upward to $2,765-2,848 per tonne, compared with $2,734-2,848 per tonne on June 6, which was at the time equivalent to €2,400-2,500 per tonne.
