Asian stainless steel exporters forced to lower prices in Europe

Asian stainless steel exporters are facing increasing pressure in the European market, prompting them to reduce their prices significantly amid a continuous decline in stainless steel values observed through late May and early June. However, despite these price cuts, many exporters, particularly from Indonesia, India, Taiwan, and South Korea, are struggling to secure firm deals.

European buyers remain cautious, citing concerns about future price drops and weak downstream demand, especially in sectors like construction and white goods. This hesitancy has left suppliers with limited options as they attempt to remain competitive while dealing with rising costs and logistical uncertainties.

Further complicating the situation is the expectation among EU buyers that prices will continue to soften through the summer months, leading many to delay purchasing decisions. Additionally, protective trade measures in the EU and strong competition among Asian mills are intensifying pricing pressures.

The market sentiment remains bearish, with both buyers and sellers adopting a wait-and-see approach. As a result, although Asian suppliers are aggressively adjusting pricing strategies to maintain their market share, the lack of demand and uncertain economic outlook in Europe continue to hinder meaningful transaction volumes.

Click here to read the source article from the Stainless Steel Club

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