European steel prices collapse

MEPS today report a collapse in European steel prices. Weak end-user demand in France, frozen market activity in Italy, depressed UK demand, a wait and see approach in the Belgian market, a severe decline in orders in Spain ... all complete a pretty desperate picture for steelmakers as the impact of the worldwide credit crisis starts to bite. For full report, see http://www.meps.co.uk/keynote10-08.htm.

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