European steel mills boosted galvanized plate EXW price 40 euro

August 20 MetalBiz--European steel mills boosted the galvanized plate EXW price up to 40 euro (U.S.$56 per ton) to the local users for September, from August' s 480-500 per ton to 490-540 euro per ton, but whether the European buyers can accept this price after vacation is uncertain. 

If steel mills continued to reduce the production, the price rising may succeed. A trader said that "the inventory adjustment has approached to be close and generally speaking, now is at the bottom of the inventory cycle".

Although the inventory digestion promoted the recent demand to increase, the actual demand was still sluggish. If the production rising of steel mills was too fast, the EXW price may drop. The traders said that the present market had stabilized the low-demand level and the tendency of Q4 would rely on the steel mills. If the resource was sufficient in steel mills, the price would dive, in turn, if the production reduces, the price will continue to rise. It is estimated that the market will tend to be clear at the end of September and October.