The European stainless flat steel market is currently experiencing downward pressure, with coil prices declining for December and January deliveries. Persistent overcapacity and sluggish demand from buyers are the main factors contributing to this trend. Projections suggest that this subdued activity is likely to extend into the first quarter of 2025.
Most distributors and service centers are maintaining a back-to-back buying strategy, indicating a lack of apparent demand. New orders for January are facing a significant decline compared to last year, despite medium-low stock levels in Europe. In Northern and Western Europe, stainless cold-rolled coil values for January delivery are at €2,470-2,480 per tonne delivered, reflecting a decrease from the December range. Italian stainless CRC is observed at €2,400-2,430 per tonne, depending on volumes.
Overall, the market outlook remains cautious, with no significant increase in coil and sheet stock replenishment expected ahead of the Christmas break.