This report is for the EU. Usually MEPS follows in a few days with a report for North America. I don’t know if the same factors apply here, but the markets are linked.
Remember, as always, that MEPS is a steel-producing-side publication, so a recovery in prices means an increase, and is seen as a good thing by them.
Stampers, of course, see it otherwise ….
A recovery in prices has now definitely commenced in the European steel market. In the first two months of this year, despite much talk by the mills, the market saw little actual upward movement. But now the advance is underway.
Millsï¿½ order books are swelling with new business, as buyers return to the market to replenish their inventories. Price increases of about 7 percent are being obtained for strip products from negotiations this month – the first upward move in prices in more than a year. Producers are intending to follow this up with further increases.