The company is reducing the values of some products, such as 316 grades, after prices reached unsustainable levels. It has also updated other grades in line with today's stainless coil values.
"The new list is adapted to today's market conditions and raw material trend," said Egidio Bini, director of purchasing and sales at Marcegaglia Specialties.
The new price list will be based on effective prices as the company will stop offering base plus alloy surcharge values. Hot and cold rolled coil producers in Europe are also offering effective prices after scrapping the old base plus alloy surcharge formula.
The stagnation in the European stainless flat steel market deepened in May due to the absence of visible demand and the weakness of real demand. Orders of only a few hundred tonnes for derivatives such as coil, sheet and pipe continue to be placed, while prices are decreasing across Europe. Overcapacity, low consumption and decreasing prices along the entire value chain have resulted in the current low sales volumes, while buyers continue to adopt a wait-and-see attitude.
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