Tuesday, October 25, 2011

European flat product markets remain subdued

MEPS just reported more gloomy news from the European flat rolled markets. According to a report published today:

 

-          buyers feel that prices still have some way to go downwards, and are holding off placing new orders

-          Steel service centres are keeping inventories low because they are unclear about the direction of steel prices

-          The German strip market is described as difficult

-          French buyers remain very cautious given the current economic and financial uncertainty in the EU

-          Whilst the Italian economy remains weak so market sentiment remains dampened.

 

For original report, see http://www.meps.co.uk/Keynote10-11.htm. Let us hope for more positive news as the New Year approaches.

 

blogger@steelonthenet.com

 

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