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The European steel market continued to adjust in February

In February, the benchmark steel price index in Europe was 87.7 points, down 0.8% on a week-on-week basis (decline convergence), up 0.2% on a month-on-month basis (from decline to rise), down 8.7% on a month-on-year basis (decline convergence), down 8.1% on a year-on-year basis.

Flat steel material: market price fluctuates
In northern Europe, the factory price of hot rolled steel coil is 520 US dollars, roughly the same as the previous price. Cold rolled steel coil price is 610 US dollars / ton, up 5 US dollars / ton. The ex factory price of galvanized sheet is 645 US dollars / ton, up 5 US dollars / ton.

Some analysts said that although the price of hot rolled steel coil has continued to rise recently, the increase has slowed down, mainly because of the buyer's unwillingness to take risks in large-scale purchase and the risks caused by long delivery time.

Some steel traders said that the current European steel plate market is generally better because of the lack of competitive import quotations and the positive impact of early production reduction, which has supported domestic prices. However, as the buyer's current inventory is relatively sufficient, they are not willing to purchase.

As of February 24, the price of imported hot rolled steel coils in the EU region was 490 US dollars / ton (CFR), down 4 US dollars compared with the previous price. Cold rolled steel coil was $556 / ton (CFR), down $4 / ton. Galvanized steel coil 600 USD / ton (CFR), down 5 USD / ton. Medium and heavy plate was down $4 / ton at $514 / ton.

In Turkey, the factory price of hot rolled steel coil and cold-rolled coil of mainstream steel plants is 505 US dollars / ton and 565 US dollars / ton respectively, which are the same as before. The ex factory price of sheet metal is 655 US dollars, 25 US dollars / ton higher than before.