The European stainless steel market is quiet and stable, with the slow summer season having fully taken effect this week and participants awaiting the European Commission's (EC) announcement on the possible introduction of safeguarding measures.
Metal Bulletin's weekly base price assessment for 2mm, grade-304 cold-rolled (CR) stainless steel sheet in Northern Europe was stable at ?,?1,000-1,050 ($1,167-1,226) per tonne delivered on July 13, while the weekly assessment for grade-316 CR stainless steel bases prices in Europe was at ?,?1,300-1,350 per tonne for the fifth consecutive week.The market is poised to react to the EC's announcement, with most sources expecting some form of safeguarding measures designed to prevent the redirection of steel shipments originally destined for the United States to the EU, following the implementation of the US Section 232 tariffs. The question is what form any...