European steel mills push for further price increases despite uncertainty from buyers about the future market direction.
Demand for stainless steel, in Europe, was slow to emerge in the first few weeks of the new year, but market activity has improved month-on-month.
By the middle of January, several major European steel producers had signalled significant price rises to the market, citing increased input costs.
Substantial rises in energy costs are increasing manufacturing costs and deterring investment in steel-intensive infrastructure projects.
Stainless steel buying activity, in Europe, has remained considerably weaker than anyone anticipated following the decline in April.
European steel coil prices continued their downward slide, in May and early June.