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Southern European rebar export market and the European coil market has bottomed out

Southern European rebar export markets or have bottomed. With scrap prices continue to fall, the European market further down, southern European rebar export offers from the 440-445 euro / ton (FOB) fell by 10 / t (FOB), buyers seek further lower prices, but the steel mills indicates the level of reached very low, it is difficult to continue to cut prices. At 445-450 mesh wire rod exports euros / ton (FOB), steel exports at 480-490 euros / ton (FOB), the market that there is still considerable room for price cuts. Taking into account the European summer holidays and the Muslim holy month of Ramadan is approaching, the next two months will slow demand in Europe and abroad terminal, longs City

Field will remain weak.

With the summer holidays approaching, demand further slowdown in Europe coils, coil prices continue to decline. Nordic price of hot rolled around 440-450 euros / tonne, which is from the lowest level since the beginning of 2010; Southern Europe HRC offer 430-435 euros / tonne, said large transactions can be as low as 420 euros / ton. Mills that the market has bottomed, brewing price 20 / t to curb prices continue dropping. Imported resources offer close to the local level, not strong attraction to buyers. Local demand is still sluggish, continued excess steel production capacity, although the European Commission is expected by the end of June the introduction of an improved competitiveness of the European steel industry andSustainable future of the European steel industry plan, but industry insiders pointed out, expect the government to save the European steel industry is unrealistic. Medium term, the European steel industry is still difficult to get out the downturn, the second half of European hot rolled coil prices or at 460-510 euros / tonne range correction.

Tags: ASTM A 242 Type 1,A 588 Gr. A,S355J0WP