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Home > MEPS Steel News - 23.09.2014


German hot rolled coil basis values remained unchanged month-on-month in September, according to MEPS. Although the pipemakers have satisfactory order books, general demand in the market is flat. During the summer, some business was concluded as low as €400 per tonne but, now, figures have recovered to the early July level. A number of big users have still not finalised fourth quarter negotiations.

We have noted a small upward price correction for commodity plate. Stock levels are stable. Activity in market is low as the economy slows. However, the higher specifications are performing better as the global linepipe market picks up, with several big projects already running and new ones to come.

There has been no significant improvement in demand for cold rolled coil since the summer vacation. Despite announcements to the contrary, domestic suppliers have maintained basis figures at the July level.

The German automakers are struggling with declining export sales. They continue to try to reduce their steel costs wherever possible. Construction-related sales of hot dipped galvanised coil are static. In the general market, basis numbers have not recovered, due to oversupply.

Low carbon wire rod mills have held on to selling figures for the sixth consecutive month. There is little activity in the recoil market, where values are unchanged, despite the producers’ desire to lift them.

In the structural sections market there is strong competition amidst subdued sales. Suppliers have, so far, failed to implement their proposed increase.

Inventories of rebar are low. Order intake at the mills is poor. Prices have increased by €10 per tonne on the back of escalating raw material costs.

The mills have, so far, resisted customers’ demands for further basis price cuts to merchant bar. Purchasing activity remains cautious after the holidays as buyers are unsure of future price movements. There has been no improvement in business levels.

MEPS - European Steel Review - September Issue

Also See: MEPS - EU Steel Prices Online



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