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Forecasts and market analysis based on price assessments from Fastmarkets MB and Fastmarkets AMM

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August 2019 | Steel Forecaster


Further price cuts as August begins: International Flat Product Market Analysis


European mills in particular are suffering the effects of a resetting of EU import quotas back at the beginning of Q3.

As August begins, there is a flurry of earnings reports emerging for global steelmakers for the Q2 period. Most of these illustrate the ongoing difficulties that have been faced by steelmakers over the past year or so, during which time prices of most flat-rolled products have shifted ever downwards even as costs of production have increased. That downward shift in pricing largely continues as we approach the mid-point of Q3. Prices of hot-rolled coil (HRC) in Europe are down by a further €5/tonne or so since late July as mills continue to scramble for business – a difficult task during a seasonally slower period of...

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