European steel price declines reduce Asian American market decline

A few days ago, it was learned from the report issued by the China Iron and Steel Association that steel prices in the international market continued to decline, with the decline in European steel prices decreasing and the decline in the Asian American market. It is understood that at the end of November, the CRU European steel price index was 172.3 points, a decrease of 4.4 points from the previous month, a decrease of 2.5%. European manufacturing continued to shrink, demand was declining, and steel prices continued to fall. In the same period, the CRU North American Steel Price Index was 171.6 points, down 10.8 points month on month, a decrease of 5.9%. The CRU Asian steel price index was 212.5 points, down 10.5 points month on month, a decrease of 4.7%. Among the major Asian economies, China's PMI was 49.0%, down 1.4 percentage points from the previous month; India was 51.0%, down 1.0 percentage point from the previous month; South Korea and Taiwan, China, manufacturing PMI were 47.1% and 43.9% respectively, continuing Below 50% cut-off point. Compared with the previous month, the prices of long products in the Far East market continued to remain stable, and the prices of thin-plate steel products continued to decline. In addition, the China Steel Association report also showed that the CRU International Steel Composite Price Index fell to 190.8 points in November, down 9.1 points, or 4.6%. Compared with the same period of last year, the international steel price index rose by 17.4 points, or 10.0. %.

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