Some confidence in the European steel market was restored in early December, Meps analytical agency reports. The growth of vacation prices announced by some steel companies at the end of November gave it to some uncertainty.
Events in Taranto associated with the forced stop of the Italian Ilva Mammage, accused of environmental pollution, caused a more definite increase in steel market prices.
The German Metallurgical Corporation Salzgitter raised prices for 30 euros unheated before, saying that it expected a sharp increase in demand from metal traders forced to start replenishing the exhausted stocks.
Many large final consumers of steel products in the European Union have not yet been able to agree with manufacturers of metal distribution on prices for the first quarter of 2013. The metallurgical plants of Europe are determined to extract the most benefits from the current situation.
Even the significantly decreased demand for metal rolling in Italy itself is now simply no longerer to satisfy. Steel products before that accumulating in the ports, today slowly diverged into consumers. European metal vehicles are still experiencing some lack of working capital, but the situation can change quite quickly.
On Monday, the British branch of Tata Steel announced the increase in prices for 30 pounds per ton that enters into force immediately. Today, many large merchants of the metal distribution announced rising prices.
The situation at the ILVA plant created favorable conditions for rising prices in the Spanish market, and local consumers quickly responded, accepting new levels of selling prices for metal rolling, the MEPS report said.
The stop of the ILVA plant poses a threat to steel deficit in the European Union - Meps
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Azovpromstal® 18 December 2012 г. 00:01 |
