European sheet market is under pressure

Under the dual pressure of low import quotation for imported resources and high market storage, the European sheet market is under pressure. With the demand near the off-season, some steel mills want to use the price decreasing to stimulate demand.
In the northwest European market, the ex-factory price for HR coil in German Ruhr area is 490-500 euros / ton, the price is rather firm, ex-factory price for cold rolled coil is 590 euros / ton. Compared with 1 month before, the decline of price is 40 euros / ton. Some ex-works price is even as low as 565 euros / ton. There are buyers saying that the import price of hot rolls from India and Vietnam is € 450-460 / tonne (CIF, Antwerp), but the lead time is long and there is a lot of resources to be ordered, and the offer of French steel mills is also highly competitive. In the southern European market, the ex-works price of hot rolled coil is 460-470 euros / tonne, the import price of Indian resources is 445 euros / ton (CIF, the Italian port), ex-factory price of cold coil is 560 euros / ton, imports resources from India and South Korea's are offered at 530-535 euros / ton (CIF, the Italian port), now ordered import resources will arrive in Hong Kong in September.