European stainless distributors fear further fall in surcharges

European stainless steel distributors have held back from placing large orders this year as they fear a further decline in surcharges in the months ahead, Germany-based service center Damstahl said Tuesday.

Distributors will likely continue to purchase material on a hand-to-mouth basis until they think raw material prices have bottomed out, which might happen in February, Damstahl said.

European stainless steel mills are cautiously optimistic for 2015 on the back of more positive PMI data, and also expect anti-dumping duties against Chinese and Taiwanese cold rolled imports to improve the market outlook, it said.

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