In 2014, European stainless crude steel production increased by 2.8 percent to 7.3 million metric tons, according to the Stainless Steel Report March 2015 issued by Germany-based service center Damstahl.
Damstahl pointed out that the European Stainless steel demand grew by around four percent to 5.8 million mt in 2014. For 2015, the European growth projections are conservatively set at two percent and the overall sentiment remains positive. Activity in the end- user segments hasve been relatively stable and the seasonal reduction in building and construction will end in March, Damstahl expects.
According to the Damstahl report, European mills are haveing their eyes on the EU Commission's preliminary ruling onabout the antidumping investigation against China and Taiwan which is scheduled for March 26. In case of a significant violation of the global trade rules, European mills could replace these volumes and increase their capacity utilization. The mills are also hoping for higher base prices in the second quarter of the current year, but, as the competition will remain fierce, with two new players Posco Assan and AST joining the game, this is doubtful.