SPANISH STEEL PRICE ROUNDUP FROM MEPS INTERNATIONAL LTD
Spanish hot rolled coil
steelmakers managed to hold onto last month’s selling figures in
April, according to MEPS. Russian and Chinese producers are offering
competitively priced imports. Moreover, there are some new
quotations from Turkey.
The hot rolled plate market is quite active but, as the domestic
supplier is focussing on the higher qualities, most purchases are of
overseas material, mainly of Chinese origin. There are smaller
quantities of Russian plate on offer. Ukrainian mills are trying to
sell but are not competitive. Moreover, buyers are not confident
that delivery promises will be kept.
Local basis numbers for cold rolled coil are unchanged despite cheap
third country material being offered from Russia and China. Demand
from Spanish carmakers has improved. However, attractively priced
overseas quotations are keeping the lid on domestic coated coil
Wire rod producers have agreed a small discount, during negotiations
for supplies of low carbon material. Although sales of the mesh
quality are flat, selling figures have moved back up to the February
level. Prices for structural section have been maintained as
steelmakers focus on export markets. Local activity is quiet at
present but some large public works projects are in the process of
Rapidly climbing scrap costs in Spain have not, so far, resulted in
higher rebar prices, as the domestic market is quiet. Suppliers are
exporting some material to the USA as well as to North Africa.
Merchant bar suppliers have hung on to the March numbers, despite
subdued sales to end-users.
European Steel Review
- April Issue
MEPS - EU Steel
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