European prices for the metal are transferred to growth
According to MEPS, European prices for flat rolled steel in early December, has stabilized. Italy base value increased slightly. Despite slow economic growth, global trade conflicts and political difficulties, there has been a slight recovery in market sentiment. However, activity levels on the steel market remain relatively low.
the Uncertainty associated with the possible closure of the Italian factory Ilva has already led to increased production in other places, which testifies to the increase of incoming orders. European steel producers notified customers about the expected increase in prices for 30/40 Euro per ton.
Although the lack of orders, particularly in the automotive sector continues to have a significant negative impact on overall demand, analysts MEPS saw the early signs of restocking, as steel producers cut output.
in addition, the factories around the world are reviewing their bids, leaving European customers with fewer alternative sources of supply.