Demand and prices are strengthening in the European strip market as the destocking phase is all but over and buyers need to fill the gaps in their inventories. Delivery lead times are lengthening and a surge in third country imports is unlikely due to the competitiveness of domestic prices. Several major mills have told customers they intend to lift basis values for the third quarter. The proposed rises range from €20 to €30 per tonne. However, some companies feel the move is premature. There are concerns that producers may try to ramp up capacity too soon and that the market will be unable to absorb the increased supply, especially as the summer vacation is looming.
Source: MEPS International Ltd
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