The European grade 304 stainless steel demand has gradually recovered in the past week, and prices have increased as well.

The demand slightly increased when prices dropped in September. The demand in the construction industry was still weak, but the demand in the automobile industry is not bad instead. In spite of the improved market demand, the overall situation is still not very strong.

In addition, due to surging energy costs, the overall capacity in European mills was 30% lower than before. Even though some authorities in Europe introduced energy tax subsidy policies, the stainless steel market remained sluggish as the demand hasn’t rebounded significantly.