In the first quarter of the current year, European stainless crude steel production decreased by seven percent year on year to 1.9 million metric tons, according to the Stainless Steel Report June 2015 issued by Germany-based service center Damstahl.
Meanwhile in the first two months of this year, the Netherlands's stainless flat steel imports decreased by 35 percent, while the stainless flat steel imports of Sweden, Denmark and Germany fell by 29 percent, 23 percent and 12 percent respectively, all year on year. In the same period, Slovenia's stainless flat steel imports increased by 48 percent year on year. In the first two months, the Netherland's stainless long steel import volume fell by 37 percent, while the imports of Denmark and Germany were down by 13 percent and two percent respectively, year on year. In the period in question, Sweden's stainless long steel import volume was up by two percent, while the import volume of Slovenia increased by 15 percent, both compared to the January-February period of the previous year.
According to the Damstahl report, the weak euro has promoted the replacement of imports, not only of stainless steel but also of fabricated products such as sinks, exhaust parts and heat exchangers. On the other hand, it will also enable stainless steel mills and fabricators in the euro zone to increase their export business.