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Metal Bulletin proposes a minimum delivery time of four weeks to reflect the growing divergence in lead times for both flat and long stainless steel products in Europe. Lead times for stainless long products have been reported at 3-4 months amid strong demand, while lead times for flat products are currently at around eight weeks but have been reported at much shorter time frames in the recent past.
The current delivery timing listed in all three of Metal Bulletin’s European domestic stainless steel base price assessments is 6-8 weeks.
This change would allow the assessment to continue to differentiate from material sold from stock at shorter delivery times but continue to include newly-rolled material from the mills.
The proposed specifications would be as follows:
Assessment: EU domestic grade 304 stainless steel cold rolled sheet (2mm) base price € per tonne delivered North Europe Dimensions: Width 1,500-2,000mm, thickness 2mm, length 1,000-3,000mm Quantity: 10-1,000 tonnes Location: Delivered Northern Europe Timing: minimum 4 weeks Unit: EUR/tonne Payment terms: Standard 30-60 days after invoice date Publication: Weekly. Friday, 2-3pm London time Notes: European Norm AISI 304 EN 1.4301 ASTM 304
Assessment: EU domestic grade 316 stainless steel cold rolled sheet (2mm) base price € per tonne delivered Northern Europe Dimensions: Width 1,500-2,000mm, thickness 2mm, length 1,000-3,000mm Quantity: 10-1,000 tonnes Location: Delivered Northern Europe Timing: minimum 4 weeks Unit: EUR/tonne Payment terms: Standard 30-60 days after invoice date Publication: Weekly. Friday, 2-3pm London time Notes: European Norm AISI 316 EN 1.4401 ASTM 316
Assessment: EU grade-304 cold rolled bright bar base price € per tonne delivered North Europe Dimensions: Diameter 0.5-30mm, typical length 3,000mm Quantity: 10-1,000 tonnes Location: Delivered Northern Europe Timing: minimum 4 weeks Unit: EUR/tonne Payment terms: Standard 30 days after invoice date Publication: Weekly. Friday, 2-3pm London time Notes: European Norm AISI 304 EN 1.4301 ASTM 304
The consultation period for this proposed discontinuation will end one month from the publication date of this pricing notice, subject to market feedback, on Thursday August 2, with changes coming into effect on Friday August 3.
Metal Bulletin has no financial interest in the level or direction of the assessment.
To provide feedback on this price or if you would like to provide pricing information, please contact Viral Shah by email to: pricing@metalbulletin.com. Please add the subject heading: “FAO: Viral Shah re: EU stainless steel base prices”.
To see all Metal Bulletin’s pricing methodology and specification documents go to: www.metalbulletin.com/prices/pricing-methodology