European stainless steel market participants were losing confidence that the market will recover early in the New Year, they told Fastmarkets on Friday November 9, with transaction prices falling further this week.
Transaction prices for grade-304 cold-rolled (CR) stainless sheets were assessed at ?,?2,150-2,200 ($2,454-2,511) per tonne delivered on Friday, down by ?,?30-60 per tonne from ?,?2,180-2,240 per tonne on November 2.Since August, the weekly average of these prices - which are for material purchased by distributors or service centers - has fallen by ?,?421.50 per tonne, or 16%."[The market is] continuously declining. It's terrible. When will...