European Steel prices rise in March

UNITED KINGDOM March 24 2016 9:10 AM    

LONDON (Scrap Register): European flat product transaction  values rebounded, in March, as import pressure from non-EU suppliers  declined.

In March’s issue of the European Steel Review, MEPS reports  that European selling values increased, from relatively low levels, this month,  after falling for much of last year.

Western European steelmakers  announced their second price hike, since the start of the year. Buyers appear to  be placing orders at the higher price level due to a lack of attractive import  offers.

Quotations from Chinese mills rose significantly, this month. The  introduction of preliminary antidumping duties on cold rolled coil from China  and Russia also hampered import penetration from overseas suppliers.

In  Germany, customers reported that order intake had improved. French service  centres noted that flat product market activity remained firm, in  March.

Positive price movements have been recorded in Italy. UK selling  figures were boosted by improved distribution activity.

In Belgium,  domestic figures are higher than those in February. Tighter supply availability  lifted Spanish transaction values, this month.