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Steel Industry in European Market Prospects in Depression Next Year

The European financial consulting company Davy, recently released report predicts,The first quarter of 2012 hot rolled prices in Europe fell by 17% year-on-year.In the first quarter of this year, the European average prices for hot coil 602 euros/tons,The first quarter of next year will fall to 500 euros/tons,In the second quarter will rebound to 510 euros / tonne, the third quarter and fourth quarter will once again fell to 500 euros / tone.

The report claimed that Steel Industry in European market prospects in depression next year, steel mills will face greater challenges. Because of insufficient domestic demand, most steel capacity utilization will remain at low levels, and steel production will be negative growth in Italy and Spain , while Germany is relatively good, but the growth rate is very low.

Because of weak demand, the current European mainly market price of hot-roll  is 480-500 euros / tonne, the lowest price in some areas is € 470 / t.