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Home > MEPS Steel News - 19.02.2013

GERMAN STEEL PRICE ROUND UP FROM MEPS - FLAT PRODUCTS

German steel consumption is reasonable. The mills booked a lot of business in December but January was a quieter month. They continue to push for higher prices and some improvement has been noted, although the target figures have not yet been achieved. Third country imports are not competitive, so far, but if the euro strengthens further, buyers will start to examine the possibilities.

Hot rolled coil producers are suggesting a rise of €40/50 per tonne for the second quarter. Buyers, who are only just starting their negotiations, doubt that the full amount is achievable. They are reluctant to finalise as current stocks are sufficient. Turkish offers are creating interest and MEPS understands that Russian suppliers are lowering their prices. Apart from some small quantities, local mills are fully booked to the end of March. The pipe makers have decent order books for the first quarter. However, their European sales are still slow and there is concern that a stronger euro could affect overseas business.

Further restocking is anticipated in the plate market during the second quarter. The mills have good order books for heavy machinery applications. The offshore industry is also providing some demand, although volumes are not huge. Line-pipe projects are still on hold but there are realistic hopes that business will improve in the second half of 2013.

Cold rolled coil basis values have gained another €20 per tonne during February as customers start to accept the mills’ price hike plans, which are deemed necessary to cover their manufacturing costs. Sales of hot dipped galvanised coil to the construction sector are ticking over at a subdued level. Basis prices in the general market have moved up by around €20 per tonne.

Source:
MEPS - European Steel Review

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