Meps report that European Strip Mill price increase announcements have prevented further price slippage.
Although strip consumption has improved slightly, and inventories are lower, the automotive industry remains stagnant.
Imports are generally down, partly due to the weakness of the Euro against the dollar, and there is talk of possible anti dumping measures by the EU, which could “head off” any potential import growth.
Several EU producers are likely to be looking for 1st Quarter increases, Corus have already announced a £15 increase as previously reported.
MEPS are forecasting an average slow increase in first quarter strip mill prices in Europe, with the possibility of more increases in the second quarter if as predicted industrial activity increases.
The full and more detailed report can be found here.