EUROPE SECTIONS: Mills reduce prices to bring down high stocks

European hollow steel sections producers have dropped their offer prices over the past week amid low sales and high stock levels, market sources told Metal Bulletin on Wednesday November 15.

“Mills are reducing prices because of [their high levels of] stocks. It is the end of the year, and mills want to get rid of some material,” one stockholder said. “It is true that we are seeing a cooling in prices, but only due to a real lack of demand in all products. Mills have large stocks [that were produced earlier] at very cheap prices so they can afford to reduce [their] prices,” one trader said. Volumes of material sold by producers over recent months have been lower than...

Published

Lee Allen

November 15, 2017

17:40 GMT

London