In the second half of the first quarter, the price of Stainless-Steel CR Coil showed a significant rise in price as the rising demand created concern about supply shortage in the European spot market. The European Commission's decision to constrain the supply from the Asian market such as Taiwan, Turkey, and Vietnam will further tighten the region’s supply. Moreover, the previously lingering rise in energy prices has now come to a decline supporting the production rate of Stainless Steel in the European mills. Furthermore, the trade disruption through the Red Sea, along with a rise in freight charges has boosted the rising price trend for the Stainless-Steel CR Coil in the European spot market. The buyers placed large orders as the demand from the downstream renewable energy and construction sector experienced a slight growth rate.

By the conclusion of February, prices for European Stainless-Steel CR Coils experienced an increase due to a decline in supply from European mills, which was compounded by lower import rates and reduced production in domestic mills. The resurgence in demand noted by major market players such as Outokumpu, Aperam, and Acerinox significantly contributed to this price upturn. Throughout the distribution chain, inventory levels remain notably low. However, there has been a cautious initiation of selective purchasing activities, a decisive catalyst is still awaited. European Stainless-Steel CR Coil production has witnessed a downturn, with the trend of escalating electricity prices persisting into 2023 due to decreased demand amid extensive stockpiling and ongoing uncertainties. Moving into 2024, the industry confronts industrial disputes, notably affecting Spain and Finland. Acerinox's Los Barrios plant in Spain is mired in a protracted strike due to unresolved collective bargaining issues, resulting in significant daily steel losses. Meanwhile, in Finland, impending political strikes pose a threat to Outokumpu's Tornio site, risking disruptions to ferrochrome operations and exports. These reduced the Stainless-Steel CR Coil production rate in the European mills.

Consequently, the domestic Stainless-Steel CR Coil industry faces price hikes and extended delivery timelines, with lead times stretching from the previous three to four weeks to a minimum of eight weeks. These challenges impede the recovery of domestic stainless-steel production, exacerbating the industry's strain. Consequently, existing Indonesian Countervailing Duty (CVD) measures will be enforced on imports of Stainless-Steel CR Coil flat products from Taiwan, Turkey, and Vietnam, imposing a standard duty of 20.5% on specified materials. These factors have led to decreased production rates and inventories of Stainless-Steel CR Coils in the European region.

According to ChemAnalyst, the price of Stainless-Steel CR Coil is anticipated to rise in the upcoming months as the demand is expected to surge from the downstream construction and automotive industries. Furthermore, the rising renewable and clean energy sector is anticipated to boost the consumption rate. The supply of Stainless-Steel CR Coil is anticipated to shift on a lower edge as the tariffs and import restrictions from the Asian countries will keep the market on a firm rising trend.