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Stainless flat prices fall as (2023)Q2 outlook deteriorates

2023-05-20
Stainless flat prices fall as (2023)Q2 outlook deteriorates

April is traditionally a slow month, in terms of activity, due to holidays in several countries. This year was no different.  

Buying throughout the stainless steel supply chain, in all regions, remains mostly limited to immediate needs. 
Any hopes of increased distributor restocking, in April, were quickly dashed by falling prices. 

Europe 
In Europe, price decreases were recorded for all stainless steel flat products, this month. 

The rate of decrease has accelerated, in recent weeks, as the sector continues to be burdened by large inventories and economic uncertainty. 
There are few indications of a pickup before the summer and, consequently, further price reductions are likely in the coming months. 

North America 
Market participants indicate inconsistent levels of purchasing activity, in the United States. 
Local steelmakers are reportedly offering extra discounts to entice orders for additional tonnages.  

However, buyers are particularly reluctant to replenish stocks of Molybdenum-bearing grades following a period of volatility in the raw material price.  

Asia 
Asian stainless steel flat product selling values decreased in all countries monitored, this month. 
End-user demand remains tepid in Taiwan and South Korea. In addition, local suppliers report that they are struggling to attract orders from their overseas customers.  
Despite some signs of upward price movements in China, the month-on-month average for 304 and 316 cold rolled flat products maintained a downward trend.  

Disclaimer: Many things here represent our opinion. Others are information from the Internet. We can therefore never claim to be correct or complete. And never base a business decision solely on the news you receive from us.