Europe's steel shortage to be alleviated in H2 2023
European steel manufacturers planned to increase steel quotations further because of rising import prices and limited production. Some steel buyers considered that the upward trend of coil prices will terminate in the second half of this year. European steel manufacturers restarted blast furnaces, which will alleviate the shortage of hot-rolled, cold-rolled, and hot-dip galvanized coils, and prices will probably fall or stabilize.
Some market participants explained that the demand for flat steel products will gradually decrease in the future months as the Southern Europe mills purchased sufficient materials for use until the end of the second quarter.
It was predicted that the demand for appliance steel will fall this year, while the automotive industry's production and sales performance will stand out in the market.
