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Home > MEPS Steel News - 23.09.2015

GERMAN STEEL PRICE ROUNDUP FROM MEPS INTERNATIONAL LTD

Hot rolled coil basis prices have weakened, in Germany, according to MEPS. Further erosion is anticipated by buyers. The negative trend in oil prices has put a number of new pipeline projects on hold. Consequently, the German pipemakers have few orders from that sector.

Demand for hot rolled plate, from end-users, is steady but sellers are continually confronted with calls for discounts. Service centres are careful about forward ordering for the fourth quarter as they fear devaluation of their stocks. They can easily obtain what they need from the large quantities of imported material standing at the ports. Inventories at the distributors are high relative to today’s demand.

Cold rolled coil sales, particularly to the auto industry, seem to be holding up quite well but there are cheap imports available from southern Europe. Meanwhile, growing competition from imports has forced local coated coil suppliers to offer discounts. Resale business is particularly difficult.

Structural sections purchasing activity was weak throughout the summer but has picked up slightly, since then. However, lower scrap costs are weighing heavily on prices.

Domestic rebar sales are reasonable but suppliers in other parts of Europe are targeting the German market because of its relatively good demand and better economic situation. Contractors are taking on new building contracts based on today’s low prices, which does not bode well for their future profitability should rebar become more expensive.




Source:
MEPS - European Steel Review - September 2015 Issue

Also See: MEPS - EU Steel Prices Online

 

 

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