European Steel Prices Slump as Factories Face Slowing Economy - Bloomberg

2022-07-15 19:20:21 By : Ms. Lisa Qiao

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European steel prices are plunging as weakening manufacturing demand combines with inventories that were replenished following Russia’s invasion of Ukraine.

Hot-rolled coil -- the benchmark flat steel product -- has dropped by almost a third since reaching a record in March. Prices are now trading below 1,000 euros ($1,042) a ton for the first time since February, according to Kallanish Commodities.