According to report of MEPS released in late January, the steel demand from European end user market is still sluggish.
However, most of steel producers in Europe are going to increase their steel prices for second quarter of 2011 as a result of soaring costs on raw material and energy.
Also, MEPS expected the prices of iron ore will keep skyrocketing, affected by devastating floods in Australia that is determining the production of coking coal.
Besides, the company believed that European steel distributors will start to purchase in next few months for restocking promptly; accordingly, it is the time to rebound for the steel demand in European end user market.
Hence, MEPS expected the steel prices in Europe could hike sharply in the first half of 2011.
No comments:
Post a Comment