Europe's stainless steel industry is facing significant challenges, with its global production share plummeting from 40% to under 10% in 25 years, speakers at the Bureau of International Recyclers (BIR) Stainless Steel & Special Alloys Committee meeting reported. Increased production from China and Indonesia has created an oversupply, impacting European margins despite signs of recovery.

Markus Moll, managing director of SMR GmbH, warned of a real risk of losing Europe's stainless steel supply chain. Global crude stainless steel production is expected to grow by 4% this year, while Europe will be the most sluggish.

Despite rising global scrap ratios (excluding India) and low worldwide stainless steel stock levels, imports pose risks to Europe's fabrication future. The discussion also stressed the critical role of the recycling industry in meeting the growing demand for essential raw materials.