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  • EU steel prices in decline in May as demand falters

    The recent negative trend in European strip mill prices continued, in May. Reduced demand from the auto sector is still undermining the steelmakers’ ambitions for increased basis values. Moreover, general activity in the marketplace is below projections for this time of year. Global trade tensions and political uncertainties led to a lack of investment and created a great deal of caution. Service centre inventories are in surplus for current requirements, leading to substantial negative pressure on resale prices. Procurement by distributors remains weak. New import offers are uncompetitive, at present. Large quantities of foreign material, booked at the turn of the year, will take time to be consumed.

    Read more at EU Steel Prices in Decline in May as Demand Falters.

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