Asian stainless steel flat product imports lost some appeal to European buyers as prices went up, reacting to higher nickel prices quicker than in Europe, merchants told MB.

China-origin prices were at $2,500 per tonne in the domestic market and exports to Europe were at $2,800-2,900 per tonne cif EU ports at the end of July, merchants said.

But prices in Asia have increased since and European import prices from China and Taiwan went up by $150 per tonne due to the rising nickel price, a trader said.

“Asian prices are going up anticipating what will happen in Europe. So Asia is less competitive in the European market at the moment” said a second trader.

European prices are also likely to increase next month, merchants said.

• [Editor:editor]