meps:
German steel price market roundup
Most consuming sectors of hot rolled coil are healthy with the exception of the pipe making industry, which is weaker than the others. The steel companies, seeing that demand was not huge, have revised their figures downwards to a greater extent than was anticipated by several buyers. Stocks at the service centres are relatively low. Distributors will need to purchase after the holidays and some may even start to do so in the remaining weeks of July, while prices are low.
Underlying demand for commodity plate has shown no signs of improvement so prices in several countries have suffered as a result. Although stock levels are low throughout Europe, buyers are loathe to reorder before the holidays. However, material will be needed come September, which bodes well for sales in the autumn. Consumption of the higher specifications continues to be healthy, with producers lifting basis numbers for deliveries in the third quarter.
The German mills are not so dependent on the commodity grades as their rolling schedules are full with orders for the more exotic qualities for the next three months and beyond. Wind tower and line-pipe markets are particularly busy. Consequently, producers have held on to prices for commercial material, although customers are pushing for discounts by quoting cheap Chinese offers.
European cold rolled coil demand shows no signs of revival. Customers are wary of placing new business because they anticipate that prices could go even lower.
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