European highlights

摘要

European mills have continued to aggressively cut CR 304 coil base prices, in order to maintain market share within a quiet market. As prices offered by mills have fallen, service centres have also had to reduce their prices in order to com-for business, in general demand remains weak, with end-users and tube-makers reluctant to make purchases in an uncertain economic climate. Stockists are reportedly not restocking either. In Italy and Spain, the cheapest Western European markets, MBR understands that CR 304 coil base prices are in the region of 1,180-1,230 zero/tonne, approximately 20 zero/tonne less than in March. In France and Germany, mills have apparently cut base prices for CR 304 coil by around 30-40/tonne to approximately 1,250 euro/tonne, matching our estimate of the best prices on offer from German service centres last month.