Reportedly, the transaction prices of cold rolled coil (CRC) have dipped in European market this week as buyers have been expecting further discount.
At present, the transaction prices of CRC are at €635~€640/ton, lower than €655~€675/ton in July.
Also, the prices of imported material have dropped to €600~€610/ton CFR from €610~€630/ton CFR.
A northern European trader said the current European steel market is sluggish and buyers have been taken wait-and-see attitude towards the market. Thus, they have been worrying that the prices would decline further in the short term.
( Source: www.yieh.com )