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Home > MEPS Steel News - 25.03.2014

EUROPEAN STEEL MARKET ROUNDUP FROM MEPS

European producers of flat steel products have, so far, failed to close deals for the second quarter at the target prices they initially announced. Falling input costs have hindered the mills’ aspirations. Moreover, offers from third country sources are becoming more competitive, although the lengthy delivery lead times involved are still considered to be a big risk in today’s market climate. Domestic steelmakers are hopeful that a small increase can be secured for orders placed over the next few weeks. Economic indicators remain good in several countries.

After a weak start to the year, demand from German end-users is now either stable or growing. However, customers are not yet ready to pay the proposed second trimester increase of €30/40 per tonne. Producers have already lowered their expectations to around €10/20 per tonne.

The French market has been described as lethargic, lacking dynamism, with stagnant average demand since January and even sagging end-user activity. In such conditions, it has not been possible for producers to lift their prices.

In Italy, market players are viewing the changing political environment with great caution. MEPS has noted a number of negative developments in the steel sector. End-user activity has slowed, creating pressure in the distribution segment. The mills have become more flexible in their attitude during price negotiations.

In the UK, the announced increases have not filtered through to the market. The strong local currency is working in the favour of importers, both from mainland Europe and from third countries. Service centres report that demand is still reasonably good but may have slowed a little.

In Spain, there is still pressure from domestic producers to lift basis figures for second quarter business but import offers are becoming cheaper. Consequently, for now, customers are reluctant to accept increases. End-users are also refusing to pay more to the distributors.




Source:
MEPS - European Steel Review

Also See: MEPS - EU Steel Prices Online

 

 

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