Bloomberg News

European Steel Mills May Regain ‘Pricing Power’ in 2012, UBS Say

January 12, 2012

Jan. 12 (Bloomberg) -- European steel mills may regain “pricing power” in the first quarter, with plants being used at 80 percent of capacity, UBS AG said.

European steel prices at $618 a metric ton are $138 a ton below prices in North America and $65 a ton below China’s, Carsten Riek, an analyst at the bank, said in a report dated today. “Historically, that kept the exports out of the markets.”

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