Steel Prices Could Be Due For A Rally As Manufacturers Halt Production

Hot rolled coil prices in Northern Europe declined further the past week due to low demand in steel manufacturing. According to sources, this was due partly to higher costs and uncertain economic outlooks. “There is too much pressure from imports, and stock levels are too high,” one trader told MetalMiner when asked about the declining prices for the flat rolled products. Last week, offers from mills in Northern Europe were €800 ($795) per metric tonne exw for October rolling. This figure represents a decline of almost 6% from…