It is reported that Finnish Outokumpu is mulling raising the base prices of stainless steel coils and plates by 5% in Europe, which will become effective for all deliveries from January 1st 2012.

Mr Mark Perrins SVP of Outokumpu indicated that the price rise in Europe was supported by the balance of stainless steel demand and supply.

Industry sources indicated that the base prices of austenitic stainless steel flat products have remained weak since May 2011.

Thus, making the price hike accepted by the market would be an important turning point for the regional mills.

(Sourced from www.yieh.com)