Trade sources told Fastmarkets that during the week to Friday in June, prices for cold-rolled stainless steel sheet in Northern Europe increased in June due to lower import availability and high pricing policies in the domestic market. 5
Fastmarkets' monthly price estimate for cold-rolled 2 mm thick 304 stainless steel sheet produced domestically and shipped to Northern Europe was €2,800–2,850 ($3,229–3,287) per ton on Friday, compared to 2,700-2,775 euros per ton on May 1.
The price increase was due to a sharp increase in June in alloy surcharges announced by the largest European plants.
The increase in prices for stainless steel alloys in Europe reflects fluctuations in the prices of basic raw materials, primarily due to fluctuations in nickel prices. Fastmarkets' monthly estimate of prices for cold-rolled 2 mm thick stainless steel sheet with an additional charge for 304 grade alloy for the European domestic market on June 5 was 2,280-2, 365 euros per ton, compared with 2,156-2, 247 euros per ton in May 1.
Market participants reported that while some small factories were still accepting orders for July, all major manufacturers had effectively closed their order portfolios, pushing back their deadlines to the end of summer.
"Delivery dates to the largest European plants are expected in late August and September," the European manufacturer told Fastmarkets, adding that an increase in delivery times is expected to keep prices stable in the near term.
The distributor stated that "continued demand may lead to further price increases after July."
"We would not be surprised if we see an increase in prices from July to August, including due to the approaching summer holiday season," the source said. "Margins in the distribution business are under serious pressure and are not affected by rising factory prices, so we are walking a fine line when it comes to making a profit."
The corresponding price for grade 316 increased in tandem with the prices for grade 304 during the year. A month, while maintaining the industry-standard price difference.
The rent between the two grades is stable at the level of 1,400-1,500 euros per ton. Market participants confirmed that this surcharge has not changed compared to the previous month, reflecting stable prices for molybdenum, while the increase in prices for flat rolled products of both grades is still due to a broader increase in surcharges.
Fastmarkets' monthly estimate of prices for cold-rolled 2 mm thick 316 stainless steel sheet produced domestically and shipped to Northern Europe as of June 5 was 4200-4350 euros per ton, up from 4100-4275 euros per ton as of May 1.
The increase in domestic production was driven by the introduction of an emissions control mechanism
