30 August 2023 – EU stainless steel producers’ order books are currently filling up and delivery times have also shifted dramatically towards the end of 2023. Taiwanese stainless steel prices for September to rise. Asian NPI prices up as much as 8% in August.
EU stainless steel producers with order books filling up
The supposed summer slump is clearly over. Market sources report that the order books of EU stainless steel producers are filling up more and more. This has not only caused prices to jump upwards, but is already having an impact on delivery times for European mills, which are already approaching the end of 2023. But there has also been a revival in the market in other respects, and demand for stainless steel has increased significantly.
Taiwanese stainless steel prices for September to rise
Sources in Asia report that Taiwanese stainless steel producers are raising prices for September 2023 in response to, among other things, increased raw material costs for FerroChrome and Molybdenum. Prices for Asian stainless steel scrap (304) rose by more than 5% in August, and prices for nickel pig iron (NPI) had even increased by almost 8%.
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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.