Reportedly, European engineering steel price have a difficulty to lift while demand sluggish so far and the products included a hot rolled round bar with C45 grade with sizes from 50-150mm diameter for March delivery.
Currently, the price is expected to be sold at €600-€620/ton. Meanwhile, the majority of European mills have also faced the overcapacity issue along with a lack of finance support.
It will definitely impact buyers to pick up the orders since the European financial crisis and economic downturn have not been solved yet.
However, European steel market will expect to slow down for while unless the market is being improved this year.