The decline in Eastern Europe’s hot-rolled prices has increased pressure on other European markets due to weak demand, and other European mills are increasingly relying on spot trading and therefore lower prices.

Traders said the market is plentiful, the end of last year and early this year, the demand has been released in advance, the current inventory and service center inventory level, the price pressure increases, the steel price pressure is even greater.

Although the major Western European steel mills of the latest transaction volume of the hot-rolled ex-factory price of 530-540 euros/ton (Ruhr area), but the steel market to return to the spot market, then the price level is also difficult to achieve. According to market news, the southern German July delivery volume of hot rolled prices fell 20 euros/ton (delivery price), reported at 470 euros/ton, Benelux service center sent to Poland hot roll delivery price of 490- 495 euros/ton, excluding shipping.

In addition, the hot coil import quotations are also falling, partly due to the appreciation of the euro against the dollar, allegedly Vietnam and India on the European hot roll export price of 480-490 euros/ton (CIF, Antwerp). Cold-rolled imports were quoted at 610-620 (CFR), traders selling price of 670-680 euros/ton, thin profits, so traders scarce procurement.