Imports have captured approximately 25% of the European market, driven by low-cost producers from Taiwan, South Korea and China. However, this competition may begin to retreat. Stainless steel prices in Asia are on the increase and further price falls there look unlikely in the short term, while more restrictive trade measures in the EU later this year and next could aid European producers.

Ultimately, stable chromium and nickel prices may act as a base for potential price increases in Q2 and beyond. However, ongoing macroeconomic challenges and flat demand are likely to prevent significant upward movement in European stainless steel prices in 2025.