European steel market: mixed. The steel benchmark price index of 98.8 points in the region fell by 1.9% (from ups and downs) on a week-on-week basis, down 0.8% month-on-month (from up to down), down 13.1% month-on-month (expanding), down 13% year-on-year.

Flat material: The market price is running sideways. In the European Union, the ex-factory price of hot-rolled coils was US$575/ton, up US$5/ton from the end of last month. The cold rolled coil is priced at US$680/ton ex-works, up US$10/ton. As of April 10, the EU's hot rolled coil import price of 520 US dollars / ton (CFR), down 20 US dollars / ton from the end of last month. The import price of cold rolled coil is 630 US dollars / ton (CFR), which is the same as the previous period.

For long products: market prices fell slightly. In the European Union, the ex-factory price of rebar is US$610/ton, down by US$10/ton. Rebar imports prices were $546/tonne (CFR), both down $9/ton. The wire mesh is 580 US dollars / ton (CFR), down 5 US dollars / ton. In addition, the European Commission said on April 2 that ThyssenKrupp and Tata Steel have decided to make concessions to ease the EU's anti-monopoly concerns about the European steel joint ventures planned by the two sides. Some insiders said that the EU competition regulator did not provide specific details of the concession plan, but the deadline for the decision on the merger was postponed from May 13 to June 5. In the Commonwealth of Independent States, just after entering April, the export prices of rebar and wire in the CIS region fell by $5/ton. As of April 10, the FOB Black Sea reference price for export wire in the CIS region was US$505-515/ton, compared with US$510-520/ton, down US$5-10/ton. According to local trade, after the recent purchase of an African buyer, the lower limit of the reference price range of the wire in the CIS region has been lowered. At the same time, the official FOB Black Sea offer is 505-525 US dollars / ton, but some of the false high quotation outside the above range is not included in the reference price evaluation process. Some market participants said that the low import scrap prices in Turkey and the insufficient demand for finished steel products in the export market are the main reasons for the decline in the export prices of long products in the CIS region.

In terms of trade relations: On April 2, the European Commission issued a notice stating that the application submitted by the European Union Euroalliages on behalf of the producers of ferrosilicon production accounting for 90% of the total output of similar products in the EU on January 3, 2019, is native to China. The second anti-dumping sunset review investigation with Russian ferrosilicon: If the current anti-dumping measures are abolished, whether the import of the products involved in the EU and the damage to the EU industry will continue or reoccur.

Summary: According to the operational situation combined with the fundamental situation, the European steel market in the second half of April may continue to adjust its trend.