European stainless steel base prices were assessed as being stable this week, although bearish sentiment still pervaded the market because of excess supply, Fastmarkets heard on Friday October 12.
The situation was largely unchanged from what was seen in the previous two weeks. A sharp drop in the alloy surcharges for October resulted in substantially lower transaction prices for material produced by European mills.This was anticipated by holders of imported material, who initiated an aggressive selloff so that they would not...