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

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December 2011 | Galvanized Steel and Tinplate Market Tracker

European Central Bank moves to stimulate growth: European Market Highlights

The latest published seasonally adjusted figures for construction in the EU confirmed that activity was continuing to decline in October.

The scope that the European Central Bank (ECB) has to revive growth is limited by its constitution and the vigilance of the German government in ensuring that it does not act outside of it, but the new ECB President, Mr Mario Draghi, has signalled that he is determined to use positively such powers as he is allowed, first by lowering interest rates as soon as he took office, then by announcing that the Bank will provide liquidity to the market as necessary and backing this up by interventions in bond markets. His actions have dispelled some of the gloom into which EU business sentiment had been sinking which promises well, but in the meantime there are still been very enquiries in coated coil markets, as steel industry customers continue to suffer from the effects of the unresolved crisis and the legacy of past ECB policies.

The latest published seasonally adjusted...


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