1 September 2022 – A strong increase in demand for European HRC, together with rising prices from EU long producers and falling stainless steel inventories in China, combined with higher demand from the downstream sector, point to the final end of the summer break.
Strong increase in demand for HRC
A strong increase in demand is reported for European hot-rolled coil (HRC). Overall, trading volumes for HRC appear to have increased significantly in 2022 compared to 2021. Some exchanges report an increase in demand of more than 72%.
EU steelmakers raise prices for longs
European steelmakers, struggling with very high energy costs, are now raising prices for longs with immediate effect, according to sources. Longs, which are much more dependent on the cost of electricity, may face further price increases in the near future, according to manufacturers.
Stainless steel demand in China picks up
Demand for stainless steel in China picked up downstream in August. Falling inventories are also reported from social warehouses. Another indication of optimistic market sentiment is the composite PMI for the stainless steel sector, which was above the 50-point mark in August.
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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.
