Rise in raw material costs pushes steel prices up in Europe

According to the analysts of MEPS International Ltd, the recent increase in coking coal costs allowed the European steelmakers to rise the prices of strip mill products.
Trade defence measures on both hot and cold rolled coils together with higher prices demanded by many overseas suppliers continue to restrict import volumes.

Significant upward price movements were noted in France, Italy, UK, Germany and Spain.
In the German steel industry, a moderate upward trend continues, according to official statements of the German Steel Association. The steel volumes stabilized in the course of 2016. The recovery is, however, overshadowed by the ongoing structural crisis in the global steel industry and the unresolved import crisis of the European steel market. In addition, the situation is now threatened by the high volatility on the commodity markets.

More news of this kind? Visit our News section >>>