Lack of new construction projects tempers optimism in northern Europe

Concern about the lack of new projects is widespread in northern Europe. Most long product distributors reported an improvement in sales activity in June, relative to May, which in turn was better than April. Nonetheless, volumes remain below pre-lockdown levels. Numerous steel buyers are apprehensive about the near-term prospects for the construction industry, particularly regarding the lack of private funding available for new schemes.

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