Significant rise in the European steel market


European steel mills continue to raise prices, steel market rise comprehensively.

In coils, the European coil market tends to rise. As the international steel prices and raw material prices rise, the European steel mills continue to rise 20-30 euros / ton for coil prices, thus buyer¡¯s confidence has improved. Now ArcelorMittal¡¯s HRC ex-works quoted prices at 440-460 euros / ton and then Italy Riva steel quoted prices at 420-425 euros / ton. As import quotes are synchronized rising, competitiveness is still weak. Although the local demand remains in the doldrums, but with the market conditions improving, buyers began to accept the new offer that has been higher. Expected to start from late August, buyers returned to the market after another, the European coil prices will gradually stabilize.

In the thick steel, European thick steel market trends up. Since a week ago, after Italian Martha Clara raise price to € 30 / t, the European thick steel market situation turns for the better. Currently Nordic thick steel offer 530-540 euros / ton, and it is said that price is still 500-510 euros / ton; but Southern Europe offer 480-500 euro / ton, in general. Imported resources offer improved in tandem with the international market to rise. Currently, China’s resources offer 450 euros / ton (CFR) andIndiaoffer 430-435 euros / ton (CFR), less attractive to buyers. Current local market is still weak and demand is relatively weak, but in the international market rally and the support of the steel price increases, the European thick steel market will remain stable in the short term, and it maybe have risen late September.

In rebar, the European rebar market trends up. Despite the low demand in summer, because steel mills cut production due to overhaul and scrap¡¯s price raise, two weeks before the NWE steel mills raise prices to € 470 / ton, and then the market prices is around 460-470 euros / ton. EU steel mills offer about 481 euros / ton, the actual transaction 467-471 euros / ton. Because steel prices are expected to improve, increase in speculative purchases, steel mills is expected that rebar prices will improve to € 500 / ton in this tidal wave of procurement under the impetus.

In Exports, southern European¡¯s rebar export market is calm. Mainstream rebar export quoted prices 5-10 euro / ton to 445-450 euros / ton (FOB), because steel mills are in no hurry to start receiving orders now due to the low of operating rate, quotations remaining strong, while buyers in the Middle East and North Africa are few of inquiry and quoted during Ramadan. Southern European rebar export market is expected that will maintain the situation of prices rising and sales falling in the coming weeks, and it maybe tend to be stable after Ramadan.

In Steel section, the European steel section market trends up. Beginning of the year, European Steel mills rose steel section¡¯s prices¡£North andSouth Europea type of steel section offer once as high as 640-650 euros / ton, but the first two weeks it fell to 520-530 euros / ton for the first quarter of 2010 lows. Recently, the Spanish Celsa Steel long products mills make the steel section and small steel section prices to raise by an average 40 U.S. dollars / ton, a type of steel within the selling price increased to € 560 / ton. Other mills are expected to follow the price increase next two weeks and the European steel market will slowly stabilized.

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