EU steel price hikes have run out of steam

Metals , Steel Apr 19, 2011 No Comments

MEPS believes steel transaction values will decline in the remainder of the second trimester, despite higher mill input costs. Buyers are already anticipating discounts when third quarter negotiations get underway.

Steel price rises have stalled in the European market. Increased selling values sought by the domestic producers have not been implemented and figures have, in fact, slipped.

Order intake at the mills is slow. Many companies have adequate inventories and are only ordering to meet their immediate requirements. Moreover, they are restricting purchase volumes due to growing uncertainty regarding the future steel price trend.

Imports, which were ordered in the first quarter, are now arriving into European destinations in large quantities. This situation has contributed to the downward pressure on domestic selling figures.

via Steel Price News, Steel news, EU steel prices, Steel Industry news, Free steel news, Steel news, Steel news alerts.

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Rod Sherkin

Rod is a former senior executive, responsible for Purchasing, for both Pillsbury and Ball Packaging back in the 80’s and 90’s. Since then, he has continued to work in the Purchasing field as both a consultant and founder of the website Propurchaser.com.

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