European stainless steel prices are projected to continue declining due to high inventories in service centers and weak demand in key sectors such as automotive and household appliances. Alessandro Bettuzzi, Sales Director of Oiki Acciai Spa and Coordinator of Assofermet's Stainless Steel Division, highlighted these factors during the Made in Steel event.
A drop in cold-rolled stainless steel prices and production costs is expected to make European products more competitive with imports from Asia, including China and Indonesia. However, energy prices remain a concern for producers, underscoring the need for investments in renewable energy.
Since mid-March, the market for cold-rolled flat products has fallen by €100/ton. The downward trend is likely to continue until July, given the weakening demand over the past eight months.
Vietnam Steel by Hoa Sen Group
