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.