EU Stainless Steel Prices Rise

EU Stainless Steel Prices Rise in July

July Price Increase

Prices for stainless steel in the European market have risen by over 3% in early July 2024 compared to June. This continues a trend from the start of the year, with prices for 304 sheets increasing by more than 22%.

Factors Influencing Prices

Despite some forecasters predicting different trends for raw materials, the scarcity of stainless steel in Europe is driving the price increase.

Tokyo Steel Launches Green Steel Brand

Introduction

Tokyo Steel has introduced a new green steel brand, utilizing electric furnace steelmaking to lower carbon emissions.

Product Details

The new product line includes hot-rolled coils and hot-rolled plates, with plans to expand to downstream areas.

Carbon Emissions Comparison

Hot-rolled coils from Tokyo Steel emit only one-third the carbon of EU blast furnace-produced coils. Hot-rolled plates emit just one-fifth the carbon of blast furnace-produced plates.

Future Plans

To further reduce emissions, Tokyo Steel aims to use 100% renewable energy for ultra-low carbon products, expected to be available to customers later in 2024.