Stainless steel demand in Q2 to decline in Europe
Stainless steel producers in the EU said the demand for stainless steel in the second quarter would be sharply lower than that in the first quarter because of COVID-19.
Aperam's orders began to reflect the suspension of industries of its major customers since March, and the number of orders now was expected to be 25% lower than the first quarter.
Outokumpu, the largest stainless steel producer in the EU, expected stainless steel deliveries to fall by 10-20% in the second quarter, but orders were not expected to be fulfilled by the end of the second quarter.
The epidemic of COVID-19 will mainly affect stainless steel demand. In the short-term and medium-term production, it was necessary for producers to adjust according to the new demand reality.
