Traders stated that stainless steel strip price in Europe has plunged to the surprising low level. In January, the base price of 304 CR stainless steel strip decreased by EUR 100 per tonne from EUR 1,100 to EUR 1,200 per tonne in the first week of December to EUR 1,000 to EUR 1,100 per tonne.

One trader said that steel mills are in an attempt to throw off the inventories before the Christmas Day, although the original products' prices are declining, dealers do not still buy. Stainless steel exporters in Asia have increased their base price in order to avoid the charge from Europe's related aspects.

India offers the material of February for EUR 1,900 to EUR 1,950 per tonne CFR, hiking by EUR 50 per tonne than one month earlier. But because the domestic price slipped, hardly users bought.

In December 2009, the alloy surcharge of 2mm 304 CR stainless steel strip has tumbled to EUR 1,005 to EUR 1,032 per tonne, sinking by EUR 17 per tonne versus ERU 1,022 to EUR 1,084 per tonne in November 2009.

(Sourced from MetalBiz)