July 05, 2008

SS demand weakening in Europe

YIEH reported that after continuously price rising since last year, the demand for stainless steel products is falling and the prices are gradually becoming weaker in Europe. Because the nickel price falls sharply and the demand keeps weaker, the stainless steel market changes its conditions from June 2007.

French based stainless steel plate processor and distributor Jacquet Metals reported that before June 2007, its profit grew up to EUR 37.7 million that doubled the profit in the same period in 2006. However, all companies in Europe meet the same conditions. Nickel fall draws steel companies profit downgrade. Although the nickel price rises up from last two weeks, the demand and price are still obscure.