News

Jun 12, 2023

Proposal to reduce publication frequency of Fastmarkets’ European stainless steel assessments

These are:• Stainless steel cold-rolled sheet 2mm grade 304 transaction

These are:• Stainless steel cold-rolled sheet 2mm grade 304 transaction domestic, delivered North Europe, €/tonne (MB-STS-0281)• Stainless steel cold-rolled sheet 2mm grade 304 base price domestic, delivered Northern Europe, €/tonne (MB-STS-0007)• Stainless steel bright bar grade 304 base price domestic, delivered Europe, €/tonne (MB-STS-0005)• Stainless steel cold-rolled sheet base price 316 2mm domestic, delivered Europe, €/tonne (MB-STS-0002)

The proposal is based on feedback from market participants as well as Fastmarkets’ own observations and analysis that price volatility in these markets would be appropriately reflected by monthly price assessments.

The stainless steel market in Europe is also heavily influenced by alloy surcharges, which are set by steelmakers on a monthly basis. As such, base prices and transaction prices also tend to move on a monthly basis.

Surcharges are generally published by the beginning of each month. Fastmarkets therefore proposes to publish its stainless steel prices on the first Friday of each month.

The consultation period for this proposed amendment starts from Monday May 15 and will end on Monday June 12. The amendment will then take place, subject to market feedback, on Friday June 16.

To provide feedback on this price or if you would like to provide price information by becoming a data submitter, please contact Ross Yeo by email at: [email protected]. Please add the subject heading "FAO: Ross Yeo, re: European stainless steel."

To see all Fastmarkets pricing methodology and specification documents, go to https://www.fastmarkets.com/methodology.