European stainless steel surcharges fall
European stainless steel surcharges are to fall for July deliveries as predicted here , with falls in excess of 280 USD (190 Euro) the big question now is has the bubble burst for stainless steel prices or will they bounce back after summer breaks ?
The figures announced by Outokumpu the Finish based stainless steel supplier for European deliveries of stainless steel in July 2010. The falls follow a reduction in demand for stainless steel worldwide and lower commodity prices. All eyes are now on the global economy to see if there is to be a double dip recession or if this is just a temporary correction after several price increases.
A snapshot of the surcharges announced today are listed below:-
1.4301 (304) 1633 EUR /1369 GBP
1.4404 (316) 25288 EUR / 2170 GBP
1.4016 (430) 482 EUR / 405 GBP
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