Europe - Recession-mired Croatia joins EU amid continued demand malaise

摘要

European demand for long products has remained in a poor state over the last four weeks, with appetite for civil construction and infrastructure projects continuing to be muted throughout the region, and the plentiful supply of material leaving end-users in no rush to buy. However, whilst scrap prices look to have moved down by around ?25/t in June, long products prices appear to have stabilised in recent weeks and there is discussion in the market that a price bottom may have been reached.