June 2009 | North American Steels
EU prices likely to find a floor: Global Steel Market Highlights
Lack of ordinary credit has been as much an obstacle to ordering imports as has the fear of over-stocking.
It still seems likely that EU coil and plate prices will find a floor in the fourth quarter, but it will be at a low level. If mills attempt to introduce bold price increases they will either fail instantly or invite imports and fail later. Lack of ordinary credit has been as much an obstacle to ordering imports as has the fear of over-stocking. There are signs that this restraint on trade will be eased as banks return with more confidence to normal support of trading by the end of the year.
In the euro-zone the rate of economic decline is set to slow,...
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