Fitch, the International rating agency, said steel prices in Europe would remain weak in the short term.
Fitch said that the price of steel products in Western Europe will fall from the peak value of 2017-2018 in 2019, and it is likely to remain low until 2020.
European steelmakers are under profit pressure, but enter the second half of 2020, things will improve as capacity cuts and input costs fall, the agency said.
Fitch expects steel prices to remain low next year as the European steel market is likely to continue to face challenges and weak demand.
Fitch said a possible fiscal stimulus from the ECB could boost demand for steel products in Europe.
