EU stainless steel facing a slowdown in Q2 2012: Damstahl

BERLIN (Scrap Monster): The stainless steel demand in Europe is facing a slowdown in Q2 of the current year, according to the Stainless Steel Report of May 2012 released by Damstahl, Germany based service center.

The report says that there is a reduced demand from the stockists, also from the end users such as the process industry and transportation, which has already showing signs of decline in April and May. It adds that the European distributors are in stronger price competition to keep market share.

European stainless steel crude steel production reached 2.1 mn mt in Q1 of the current year, which is an increase of 15% compared of Q4 of 2011. However, a decreasing production level is expected during the second quarter by market participants.