European mills are increasing their hot and cold rolled coil prices by as much as €50/ton ($54) for September delivery and are planning a second round of increases for October delivery.
All steelmakers are planning to keep their plants idle for longer than usual this year due to weak sales and overcapacity. Due to production cuts, deliveries of agreed contracts are delayed.
The mood of the European stainless flat steel market is changing.
Some northern European service centres noticed an increase in demand in July as visible demand returned and stocks were replenished. This follows a long period of slow sales for HRC and its derivatives.
Currently, stainless CRC averages €2,230-2,280/t delivered and HRC around €2,100-2,130/t delivered in Northern Europe. Scrap prices in Europe have also recovered by around €50/t this month after reaching unsustainable levels in June due to extreme shortages.
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