Overall decline in the European steel market demand slowdown approaching summer break

With the slowdown in demand for summer holidays approaching, the European steel market fell across. The price index was 162.2 CRU region, weekly flat chain, fell 4.7 percent last month, down 12.9% over last year.

Coils, the European coil market deep down. With Nordic HRC prices have fallen to its lowest level more than three years, the market expects European coil prices have bottomed out or steel mills to seek price increases, but low-priced imports of southern Europe and third-party resources that offer hard to firm, last week, the Nordic further relaxation of hot rolled to the bottom of the ex 430-440 euros / ton; cold rolled 520-530 euros / ton, compared with the end of May fell 10 euros / ton. Cold roll third countries offer 490-500 euro / ton.

No representation steel mills continue to fall, but market confidence generally pessimistic, hesitant buyers under a single short-term rebound in the European coil market weakness.

Thick, the European plate market weakness consolidation. Nordic ex maintained at 500-520 euros / ton; Southern Europe fell 10 / t to 460 / t. As from July to September the European countries have moved into the summer break, the market demand will slow further, plate prices or fall back again 10-20 euro / ton. However, traders said the four quarters of buyers will return to the market for replenishment, then steel or subsequently rebounded.Long products, Southern Europe spirals market down. Due to the recent scrap prices fall further, southern European rebar prices fell more than the beginning about 10 euro / ton to 470-480 euros / ton; mesh with wire and wire drawing than in early fall 10-15 euro / ton, respectively, to 450-455 EUR / ton and 460-465 euros / ton. Mills by the end of April the price failed. However, due to the current level is already very low steel prices, steel mills that the market has reached bottom, without considering further price cuts. However, given the market demand does not have any signs of recovery, the third quarter is expected to southern Europe spirals prices will continue at low levels.

Exports, southern European rebar export markets continue deep down. Now export price has been reduced to 430 / t (FOB) or so, the Middle East and North Africa market will enter the holy month of Ramadan in early July, when demand will slow further in the short term Nei Nanou long steel export prices rebound hopeless.

Tags: EN 10028-2 P235GH,DIN 17155 HI,HII,ASTM A387 Gr. 22