During the Chinese New Year holiday, the European steel market is almost flat, buyers wait and see mood darker still.

In terms of steel sheet: the prices continue steady, market demand flat. Some steel mills also decrease the target price increasing ratio from Euro 30 / ton down to Euro 5-10 / ton. The stock market is more plentiful, buyers do not rush to purchase, future market prices are likely to continue to hold steady. Currently, ex-factory price of hot rolled coils in Northwest Europe remains stable at Euro 410-415 / ton.

The steel plate market is similar with sheet market, at the beginning of this year, after prices fell Euro 5-15 / ton, the European plate prices have been steady, ex-works price of plates in Ruhr area reportedly Euro 500 / tonne.

Rebar: the deserted market purchases, buyers wait and see mood strong. Scrap prices, combined with weak domestic and international market demand, rebar market pressure doubled. Delivery mainstream market price of around Euro 430 / ton, the chain fell Euro 5-10 / ton.