European long product prices fell significantly this month, as a combination of falling demand from end-users and the speculative withholding of purchases by stockholders have led to reduced purchasing from mills. End user demand has declined over the past months, with new project starts falling in line with seasonality as the winter approaches. High steel prices are also encouraging the postponement of projects which can be delayed. This has led to fewer orders at service centres, leaving stock levels relatively high compared to material outflow, and has given stockholders more negotiating power with mills.
展开▼
