EU aimed to Middle East, expanding heavy and medium plate export

June 16 MetalBiz-With the growth of international oil price, the construction projects of Middle East begins to resume and EU heavy plates exporters start to increase export to Middle East markets.

Affected by financial crisis, some large-scaled construction projects of Middle East was terminated since the end of last year. For the time being the construction projects tend to be active, which greatly attracts heavy and medium plate exporters of Europe. The price of heavy and medium plate made in June is at 400-450 euro, which is equivalent to U.S.$560-630 yuan per ton. A person from an European steel mill said "the local demand is still sluggish, we have to turn to Middle East markets." He added that its export business shares account for 20% and 80% in the domestic market, while now the shares are 60% and 40% respectively.

Owing to the setback of European steel demands, it is difficult for steel mills to propel the price of June to increase by 40 euro per ton.