Downward Trend in Northern European Flat Steel Prices Continues

Slight-to-moderate price reductions were recorded, in February, for most flat product categories, in all the countries surveyed for the European Steel Review Supplement. This trend is very much in line with the major Western European economies.

Demand varied, by country and product, in January and February, but was, overall, below average, for the time of year. This was exacerbated by uncertainty amongst buyers, arising from the Brexit negotiations and the European Commission’s deliberations concerning safeguard measures.

The slowdown in European car production, precipitated, in particular, by the emissions measuring scandal, is having an especially negative impact on sales of galvanised sheet and coil. This has a knock-on effect on demand for hot and cold rolled coil. The consequent spare production capacity, at regional rolling mills, puts further negative pressure on steel prices.