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Home > MEPS Steel News - 26.10.2016

MEPS – COIL PRICES EXPECTED TO CONTINUE RISING IN NORDIC REGION

According to MEPS, business activity for hot rolled coil is stable across the Nordic region. The mills’ attempts to lift selling values were largely successful, in October. We expect that upward price pressure will be increased by the announcement of European Union antidumping measures against Chinese hot rolled coil and plate.

Consumption of hot rolled plate is quite weak. Demand from bus and truck manufacturers is good but the agricultural equipment and oil and gas sectors are not strong. Antidumping action against Chinese suppliers may introduce upward price pressure in the short term.

Western European mills report that their cold rolling schedules are full, through to the end of the year. This has helped producers in northern Europe secure increases. Delivery lead times are longer than usual.

Hot dipped galvanised material is in quite short supply. Consequently, the mills have managed to raise prices in October. Demand from car makers continues to be strong.

Purchasing activity for wire rod is slower than expected. However sellers are optimistic that demand will pick up in the near future. Producers from southern Europe have become more active in the market. Prices could slide further but no dramatic fall is anticipated.

Demand for structural sections is quite weak, for the time of year. Scrap costs are low. Beam prices continue to drop back, following the steep rise earlier in the year. Consumption by the construction sector is fair.

Consumption of rebar is reasonable. However, prices continue to fall steeply. Buyers speak of offers from new suppliers in Russia and Spain. This, combined with low scrap costs, is putting downward pressure on selling figures.




Source: European Steel Review Supplement 
- October Edition

Also See: MEPS Nordic Index and MEPS Nordic Steel Prices

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