Europe in recovery mode bodes well for steel
In the last several months, analysts have reported that price increases for steel have been successfully accepted across the board throughout Europe. Many steelmakers are planning additional rises before autumn, sources reveal. Spain, Germany and Italy are all planning additional price increases for July while sources say the UK and French mills probably will hold out until September. On the whole, analysts report that the outlook for the EU sections market is positive as economic recovey is expected to rapidly gain pace through the rest of the first half of this year. Seasonal factors should assist in giving prices a boost in Q3, analysts say. Predictions are positive for 2003 as the world economy begins its recovery. Steel players report the most positive market is the UK which gains benefits from many large projects. UK mills report their order books are close to normal levels now and that stockholders are more confident about market conditions.