NORDIC STEEL MARKET
ROUNDUP FROM MEPS
Domestic selling figures
across the Nordic region remain under pressure, according to MEPS.
Buyers of hot rolled coil are reluctant to hold stock because they
feel unable to predict price trends, in the near future. Competition
between suppliers is keeping profit margins tight.
Business activity for commodity plate is depressed. No change is
foreseen in the immediate term. Buyers in Norway report that imports
from China are being offered, although quality issues make them
unsuitable for some end-users.
Cold rolled coil sales tonnages have been reasonable in September
and October. However, prices are down. Meanwhile, demand for coated
coil is satisfactory but buyers are wary of the likely effects of
the Chinese slowdown and the Volkswagen car emission scandal.
Drawing quality wire rod transaction values have moved lower.
Competition between local suppliers remains tough and has been
exacerbated by increased imports from Russia.
Sales volumes of structural sections have dropped off since
mid-September. Slower growth in China has had a knock-on effect, in
Europe. Delivery lead times from regional mills are very short, at
one or two weeks.
Rebar consumption is mediocre. Transaction values dropped in
October. Subdued demand and further reductions in scrap costs are
putting selling figures under pressure.
End-users of merchant bar are only buying for their immediate needs.
Stockists are too reluctant to build inventory. Prices continue to
Steel Review Supplement - October Edition
Also See: MEPS
Nordic Index and MEPS Nordic
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