TOP STEELMAKERS 2017: European steelmakers continue to fight low-priced imports

Stronger demand and higher prices gave European steelmakers a boost over the fourth quarter of 2016 and in the first three months of 2017.

However, concerns about under-priced imports remain, even as steel prices continue to soften as the second half of 2017 approaches.
Crude steel production in the EU fell by 2.34% to 162.29 million tonnes in 2016, according to the World Steel Assn (Worldsteel), as a number of EU steelmakers lowered their output as a part of efficiency and cost-saving measures, following the price trough of late 2015 and early 2016.
EU steel prices rose sharply in the fourth quarter of 2016 on the back of a surge in the iron ore, scrap and coking coal markets, after China had announced that it was limiting the number of working days of coal mines to 276 days a year, down from 330 days per year.

Metal Bulletin’s assessment of prices for Northern European domestic hot rolled coil rose by €90-100 ($102-113) per tonne over the month to €540-550 ($609-620) per tonne...


Viral Shah

June 06, 2017

20:05 GMT