Flat steel prices in Europe are going down

According to MEPS International, after the decrease in pressure on steel imports from China, the activity of other Asian countries, especially India and Vietnam, as well as Turkey, is increasing. The attractiveness of imports increases as the euro strengthens against the dollar.

In Germany and the EU, prices are falling. Market supply has improved. There is a high level of inventory, especially in service centers. The main types of steel products offered are from suppliers in India, Taiwan, Vietnam, South Korea and Russia.

Industrial production in Italy declined slightly in May, excluding the automotive and engineering industries. The market is readily available at attractive prices, imported from India, Turkey, Vietnam and China. In this situation, buyers demand discounts, which leads to further price reductions.

In the UK, a weak pound stimulates exporters, and therefore production. In the past few weeks, demand has weakened, but still remains at an acceptable level. Stock levels are above normal. Import offers from India or Vietnam are especially attractive because of the exchange rate differences.