It was observed that European stainless steel production decreased by about one third in the July/September 2022 period compared to the previous quarter and producers reduced their melting capacities due to low demand in this period. High interest rates and energy costs were the factors affecting the stainless steel industry in Europe.
According to market sources, an improvement in shipments is expected in the first quarter of 2023, while restocking is expected to start in the short term. It is predicted that the decrease in energy costs and the reduction of inflationary pressures will create a positive environment for the European stainless steel market.
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