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Europe Scrap Market Shells out Slightly in Production of Stainless Steel

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by - 10/18/2012 5957 Views

Production of stainless steel decreases slightly on Europe scrap market because of lethargic use of stainless steel metals.

Recent report of Germany Based service center Damstahl surveyed that now the production of stainless steel has been slightly shells out to 4.1 million tons in the first half of this year 2012. This sudden and drastic change in steel production is mainly due to the fall of nickel prices in the first half of this year. It is analyzed and find out that the distributors and end users of this region delayed in buying steel products as nickel prices has declined making the stainless production very worse.

           

And also another reason for this scenario is the consumption of stainless steel products from several sectors such as automobiles, and home appliances in Europe. It is also reported that the consumption of steel in home or industries is increased when compared to the previous years.

Therefore, now the European steel market and steel mills continue to reduce the input cost as well as reduce the level of production in order to fight against the weak European scrap market.

Category : Metal

Tags : consumption of steel, Europe trade market


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About sunitha k.s

It’s me Sunitha from RecycleInMe. I write interesting news and updates related to recycling and scrap trading industry. Being an environment enthusiastic, I am feeling so proud to work in RecycleInMe (RIM).

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