European Stainless Coil Lead Times Hit Fourth Quarter
European prices for stainless hot and cold rolled coil remain mostly stable compared to the end of last month at very high levels. However, lead times from all European mills are now stretching into the fourth quarter, sources tell Kallanish.
Stainless HRC for October-December delivery is now sold at €2,580-2,620/tonne ($3,072-3,120) delivered, depending on tonnage and month of delivery. CRC prices are pegged at €2,750/t delivered on average, also for Q4 delivery. No mills in Europe are quoting material for earlier than October casting, with one large European stainless steelmaker now quoting for Q1 2022 casting.
Business is said to be booming throughout the value chain as order books are full for producers, distributors and end-users. Lead times are also stretching for distributors, who are pushing up their flat products prices across their entire range as coil supply shortages remain the main issue, sources say.
Sources believe the situation of high flats values will continue this year. Rumours are spreading that the European Union will confirm its anti-dumping measures and impose safeguards on stainless CRC coming from India and Indonesia, Kallanish hears.
Natalia Capra France