The European market demand for stainless steel recovered slowly at the beginning of the new year. Although market activities increased a bit compared with the past month, buyers generally lacked confidence due to multiple factors, such as the fluctuating prime material costs and the geopolitics and economic uncertainty. However, most of the buyers will need to place orders with steel mills in February and March in order to fill their stock.

Since more and more distribution centers and stockists started to make purchase plans for the second quarter, it was estimated that steel mills could raise their quotation in a reasonable range in a short term.