July 2011 | Coated Steels
EU prices stabilise at low levels: European Market Highlights
There has been some softness going into the summer season.
With buyers now departing the market for the summer break, there is limited purchasing activity in EU coated markets. As we forecast last month, there has been some softness going into the summer season as mills sought to fill order books and rolling schedules before buyers completely disappear. This has meant that EXW prices from northern European mills have slipped €20-30/tonne over the last month and are now at €630-650/tonne EXW for 1mm Z140. The pricing discount pressure has largely come from southern Europe where ex-works prices are now only €10-15/tonne below the northern European price, which is in line with delivery costs. Marcegaglia for example is at €620/tonne. With weak demand locally, southern European mills have been sending material north and this has narrowed the spread between the regions.
As such, MBR believes that this is the trough for spot galvanised...
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