Stainless-Steel Round Bar Prices Witness Sharp Decline Amidst Weakening Demand in European and Asian Markets

The prices of Stainless Steel Round Bars are currently experiencing a notable decline in both the European and Asian markets, and it is anticipated that they will continue to drop further by the end of May. Market experts have cited multiple factors that contributed to this downturn, including weakened demand, pricing pressures, and economic uncertainties.

One of the primary reasons behind the decline in Stainless Steel Round Bar prices across the European market is the subdued demand from various downstream industries. Key sectors such as construction and manufacturing have been witnessing a slowdown, making selling Stainless Steel Round Bars increasingly challenging. Manufacturers and distributors have also reported declining sales volumes. Additionally, the prices of raw materials, including nickel, molybdenum, and ferrous scrap, continue to face pressure. Moreover, economic uncertainties have cast a shadow on the Stainless Steel Round Bar markets, despite the significant reduction in energy prices, which has lowered the production costs of energy-intensive stainless steel.

In China, the Stainless Steel Round Bar market is prevailing a bearish sentiment due to poor demand, even though the spot arrivals in the market have decreased. Last week, some stainless-steel mills reduced their shipment volume to the market. The social inventory also declined slightly as secure goods were being digested. However, while the steel factories' production schedule reached a new high in May, the actual production may not meet expectations. Meantime, high-grade Nickel Pig Iron (NPI) prices were low last week, leading some holders to slightly reduce their quotes when the downstream demand fell short of expectations. On the other hand, ferrochrome prices remained stable during the same period, though producers intended to raise their quotes before the bid price release. However, transactions were slow due to the cautious approach taken by buyers. Thus, fluctuating raw material costs are also impacting the Stainless Steel Round Bar market.

According to ChemAnalyst, the downtrend in Stainless Steel Round Bar prices is expected to persist in the European and Asian markets over the next few weeks, primarily due to a decrease in both demand and stainless-steel supply. It is anticipated that the demand for Stainless Steel Round Bars will continue to exhibit a weak recovery state in May, with little possibility of a significant rebound.