The EU's stainless steel sector has seen production fall due to low demand and has been struggling with high inflation. Nevertheless, positive developments started to take place in the second half of 2024 with the expectation of a recovery.
Improving macroeconomic situation was considered to be the main factor influencing the recovery phase of the European stainless steel market. Credit costs are expected to be reduced and the focus is expected to be on the development of renewable energy sources, especially wind and solar power.
As interest rates stabilize and inventory levels in downstream service centers return to normal, market sources expect growth to be slow, at least in the first half of the year. However, the sector is expected to grow significantly in the second half.
With this positive trend, the recovery in end-user sectors such as manufacturing and construction is also expected to be gradual.
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