European distributors of flat steel products reported a 3.1% year-on-year drop in shipment volumes in 2018, Eurometal said this week.
"Shipments decelerated mainly in the second half of 2018, with mounting uncertainties regarding the European automotive industry and related supplier sectors," the regional federation for steel, tube and metals distribution and trade, said on Monday February 4. The automotive sector is one of the main end users of flat steel in the Europe, so a decline in car demand puts pressure on the steel coil market. And since a surge in new car sales last summer, ahead of the introduction of emissions testing under the new Worldwide harmonized Light vehicles Test Procedure (WLTP)...