European strip prices likely to fall in '06

Dec 14, 2005 | 04:03 PM | Bianca Markram

European strip product prices are likely to fall by 5 to 10 euros ($6 to $12) per tonne at the start of 2006 as some major mills still have stockpiles and consumers remain reluctant to buy large volumes, according to market participants.

European producers have flagged a 15- to 30-euro ($18 to $36) price increase for the first quarter, but participants don't see the increases as achievable targets.

"At most we will manage a rollover (in the first quarter)," a British representative of a German producer said. "But one thing is sure, an increase (in the first quarter) is not at all possible. We realized that early on (in the fourth quarter) in the U.K., but it seems the continent has now cottoned on to this as well."....

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