Rising Stainless Steel Prices in Asia Signal Market Recovery with Strong Demand and Tight Supply

According to Gerber website on April 18, 2024, due to a significant market recovery, stainless steel prices in Asia are strong and continuously rising. The supply situation in some markets remains tight. The reporting season begins in Asia. It is expected that the revenue of IT, utility, and raw material companies will increase significantly.

According to Gerber website on April 18, 2024, due to a significant market recovery, stainless steel prices in Asia are strong and continuously rising. The supply situation in some markets remains tight. The reporting season begins in Asia. It is expected that the revenue of IT, utility, and raw material companies will increase significantly.

Asian stainless steel prices are strong and continue to rise

Market participants are increasingly reporting an increase in stainless steel prices in Asia, especially for cold-rolled products. The main reason for this situation is the increase in demand and the resulting increase in demand activities. In addition, despite some degree of fluctuation, raw material prices have been proven to be stable and upward.

In addition, the supply situation in some markets such as the European Union remains tight and there is currently no improvement visible.

IT, utilities, and raw material companies are in a leading position

The reporting season for the first quarter of Asia has already begun. Deutsche Bank analysts predict that the average profit growth rate of companies in the Morgan Stanley Capital International Asia (excluding Japan) index for 2024 will be slightly below 24%.