July 2011 | Welded steel tube & pipe
Coil continues to disappoint: Europe, Middle East and Africa Market Analysis
Italian prices have largely followed the weakness in HR coil and the latest offers for standard-sized S235 3mm thick ERW sections are now down to €640-650/tonne ex-works. Galvanized pipe is around €740-750/tonne ex-works.
Until coil prices touch bottom and begin to move up, it is our opinion that the constantly-expressed refrain from EU tubers that welded tube prices will begin to move up shortly is flawed. While HR coil prices hardly plunged this month, they were eroded somewhat in southern Europe with ex-works prices now down to €520/tonne in Italy for example. Further downstream products such as CR coil and HDG came down even more than the €20/tonne seen in HR coil, as spreads across the value chain were compressed. In northern Europe, aggressive coil sales from southern European suppliers brought down prices as local integrated mills were forced to finally react to the lower-priced deals to ensure sales. Coil dropped a similar €20/tonne and is available at around €540-560/tonne ex-works.
EU mills continue to push for gains off low levels...with no success
Italian...
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