European Market Highlights

摘要

As predicted, the European market has seen further price deterioration over the last month. Import offers from producers as far away as China and Korea have joined the offers from the more usual exporters such as India. These appear to have drummed up little interest so far however. Producers are looking towards government stimulus packages such as the German car scrapping scheme for support, which should hopefully boost demand in the region over the coming months. However, MBR does not expect this boost to be sufficient to support a significant recovery in prices, so a period of stable prices at low levels is the most likely scenario.