Steel prices fell in May

European steel prices fell 3 percent in May, according to the MEPS International Index. Throughout Europe, this trend has affected cold-rolled and hot-rolled sheets. In many countries, the rise in prices for galvanized sheet metal has slowed and stopped.

The good economic situation in Germany keeps steel consumption high in the country. Steel offers from Taiwan, Vietnam, South Korea and Russia helped drive down prices.

A downward trend was also observed in France. End-user activity was low in April, as in May, when there were several holidays. The unfavorable factor of uncertainty before the elections played a role.

Turnover also declined at service centers and steel producers in Europe, due to attractive prices for products from India, Turkey, Egypt and Malaysia.