Steel price declines accelerated in June as supply exceeded demand and raw material costs fell.European sheet prices have declined sharply by €112–146 /t m/m, around 12–18% across all sheetproducts. Demand in Europe has weakened significantly, with limited spot transactions observedover the past month. Plate prices also fell sharply by €99 /t and €127 /t m/m in Germany and Italyrespectively. Mills have been forced to decrease their prices to remain competitive against lowerpriced import offers. Buyers are adopting a cautious approach, anticipating further price declines inthe near term.
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