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Home > MEPS Steel News - 22.05.2015


UK commodity plate prices are still higher than those in most of mainland Europe, according to MEPS. This is attracting imports, aided by the strength of sterling. Resale values are still under pressure. The lack of investment in the oil industry means sales to that sector have plummeted. Construction demand has held up but selling figures have been damaged by the availability of cheap Chinese material.

Buyers report that Russian suppliers of cold rolled coil have reduced their offers. Domestic basis number have weakened slightly from the reduced level established in April. Customers consider the bottom has been reached for coated coil transaction values. There are fewer, cheap Chinese offers. The vehicle sector is healthy and distributors are busy with sales to the building industry.

Prices for structural sections have tumbled as order intake has slowed. The weak euro has given mainland European suppliers significant advantages. The environment for distributors is increasingly challenging as lower ex-mill values have led to stock losses. Even so, there appears to be no resolve on their part to push resale values up. The larger players are selling at particularly low numbers. April was quieter than expected but there should be plenty of activity in the future.

UK rebar prices for forward orders are at a similar level to last month. Despite healthy underlying demand, the domestic producer has little possibility of lifting values at the moment. There is severe import pressure, mainly from Chinese sources but also from mainland European suppliers taking advantage of the current exchange rate. There is plenty of material sitting at the docks and service centre stocks are considered to be a little on the high side.

Some price erosion was noted for merchant bar, during the latter part of April, but, since then, things have stabilised. Service centre stocks are reasonable. There are plenty of offers from mainland Europe due to the weak euro.

MEPS - European Steel Review - May Issue

Also See: MEPS - EU Steel Prices Online



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