- 304 CRC prices climb on extended mill lead times
- Demand concerns may limit further upside
SteelDaily: European cold-rolled stainless steel prices strengthened in June, supported by higher alloy surcharges, reduced import availability, and extended delivery schedules at major mills. However, market participants remain cautious as weakening downstream demand could limit further price increases during the summer months.
According to market sources, Northern European domestic transaction prices for 2mm 304-grade cold-rolled stainless steel increased to EUR 2,800-2,850/t as of 5 June, compared with EUR 2,700-2,775/t at the beginning of May. Similarly, 2mm 316-grade cold-rolled stainless steel prices rose to EUR 4,200-4,350/t from EUR 4,100-4,275/t over the same period.
Mill lead times extend
Market participants reported that order books at major European stainless steel mills are effectively closed for near-term deliveries. While some smaller producers continue to accept July orders, lead times at large mills have reportedly extended to late August or September.
The tighter supply situation has strengthened mills’ pricing power, with producers benefiting from reduced import competition and rising raw material costs.
Import decline supports domestic prices
The implementation of the Carbon Border Adjustment Mechanism (CBAM) and safeguard measures has significantly reduced imports into the European Union. Market sources indicated that the share of imported cold-rolled stainless steel fell to 12-15% by early 2026, compared with around 28% previously.
Some market participants believe further reductions in Asian imports could encourage mills to target transaction prices closer to EUR 3,000/t during August and September.
Demand remains a concern
Despite supportive supply-side fundamentals, distributors highlighted growing resistance to additional price increases. Market participants noted that end-user demand is weakening, with some estimates suggesting consumption has declined by nearly 20% compared with the first quarter.
The summer holiday season is also expected to slow buying activity, raising the possibility of price stabilisation during July and August.
Outlook
European stainless steel cold-rolled prices are expected to remain supported in the near term by higher alloy surcharges, tight mill availability, and lower import penetration. However, the sustainability of further price increases will largely depend on demand recovery, as weakening consumption and seasonal slowdowns could limit mills’ ability to push through additional hikes.
Note: This article is published as part of a content exchange agreement between SteelDaily and BigMint.
Leave a Reply