Strengthened euro crushing prices in Europe

Prices for steel in Europe were under pressure from imported offers due to the sharp increase in the euro against the US dollar. In addition, importers of metal rolling in the EU compete, offering more and lower prices.

Last week, Turkish companies traded in Katan and Armature in European markets of 610 US dollars (CFR Port of the Mediterranean Sea), and Indian metallurgists gave offers to supply from 500 tons of these products to 605 US dollars (CFR).

The Turkish manufacturers of the metal rolling were aggressive and in the steel foliage segment: here the proposals of a hot rolon decreased to $ 605 per ton of steel S235 (CFR), discounts on thin -leafed steel with a thickness of less than 2 mm and a width of 2000 mm reached 20 percent.

Indian companies traded in Europe last week with cold -rolled steel coated 1 mm thick for 740 US dollars (CFR).

As reported, in the United States, against the backdrop of disagreements between President Obama and Republicans in the House of Congress, there was a record drop in the dollar against the main world currencies. Including the ratio of the dollar/euro reached an eight -month minimum and the euro continues to strengthen.