Steel Strip Price In EU
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According to the European Steel Review, a November
edition of the European Steel Review by European parliamentarians, the price
base for Steel mills in most European markets is relatively stable. Big steel
mills continued to push for further price increases, but buyers barely reacted.
Still, steelmakers are confident that a modest price increase will take effect
in early 2018. Although the distributor has successfully digested the
overinflated inventory, there is no immediate buying pressure. However, supply
has tightened as a result of trade measures. This, together with solid
underlying consumption, continues to support manufacturers' recommendations.
German manufacturing continued to grow strongly at
the beginning of the fourth quarter. Steel consumption remains strong and car
and construction companies need a lot of steel. The import quantity is mainly
limited to small tonnage. Despite the lack of competitive overseas
opportunities, buyers see the availability of domestic sources as sufficient to
meet their needs. Benchmark prices remained largely unchanged in November,
still falling short of targets set by local steel mills.
Prices in France are relatively stable. Demand is
pretty good, even though orders were low in October. Buyers, who had expected
prices to fall, have resumed buying. While steel mills continue to recommend
increased production, customers expect no change until the end of the year.
In Italy, most fourth-quarter deals have now been
finalised and prices are on par with last month's record. There is a certain
degree of uncertainty in forward pricing. Buyers are waiting for large orders.
In fact, some major service centers are still preparing for the end of the
year. The new import agreement is almost nil. Offers from Turkey, India and
Vietnam are close to European levels.
Despite the calm in the UK market, some service
centres reported a rise in activity levels in early November. The outlook for
manufacturing remains positive, but car production is slowing and construction
activity is falling sharply. Resale profits continue to be a problem for
distributors as lower-priced old inventories continue to play a role in the
supply chain. Producers have been slow to release a target price for the first
half of 2018 after noticing a recent drop in trading volumes.
Demand in Belgium is strong, and while sales are
shrinking, the need to reduce inventory levels by the end of the year is taking
into account. The product base value of steel strip mill is stable at present.
The supplier recommends a small increase in production in January 2018.
However, distributors do not believe current demand justifies further rate
increases. They are already struggling with their resale margins. Import prices
in third countries are no longer attractive.
Spanish manufacturing grew further in October. The
demand for strip mill products is stable. The underlying value remained stable
in November. Orders from local mills are unlikely to improve much in the near
term. A large number of imported materials, especially cold rolling and
galvanized coils,cold galvanized steel pipe , are still arriving at a time when overseas
prices are very competitive. New import quotations were resumed this month.
Activities at the service center are rather slow.
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Our website:
www.pipesteelchina.com
Contact: steel@fwssteel.com; enquiry@pipesteelchina.com
