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Home > MEPS Steel News - 19.11.2014

NORDIC STEEL MARKET ROUNDUP FROM MEPS

Purchasing activity in northern Europe is starting to slow ahead of the winter break, according to MEPS. Mill order intake of hot rolled coil is unlikely to pick up during the final quarter. Customers want to minimise their inventories for the year-end. Prices are weakening.

Cold rolled coil producers are not, as yet, pushing for higher prices in the new year. Raw material costs have fallen, putting downward pressure on steelmakers in upcoming negotiations. Prices in Norway have risen, in kroner, reflecting the weakening local currency. Distributors find it difficult to pass such increases on to their customers.

Demand for commodity plate is subdued. There is plenty of material available. Distributors are rationalising their structures, to adapt to the prevailing business situation. Selling figures are holding up, in Norway. Imported Russian plates, whose values are complicated by both the rouble and US dollar exchange rates, are now more expensive, in Norwegian kroner, than they were in the summer.

Order volumes for drawing quality wire rod are quite healthy. Industrial activity continues at a satisfactory level - stronger than in most of Western Europe. Selling values are unchanged in November, in euro terms, in all the countries reviewed. Structural section sales volumes are fair. Building activity continues at a good pace because the weather has remained mild, so far. Lower raw material costs are starting to exert negative pressure on transaction values.

Low scrap costs are likely to have a negative effect on rebar prices in the near term. Activity levels remain good, aided by the continuing fine weather. Merchant bar prices have fallen in November reflecting poor demand. There are no indications that consumption will pick up in the near future. Demand from the manufacturing sector is slowing.



Source: European Steel Review Supplement  
- November Edition

Also See: MEPS Nordic Index and MEPS Nordic Steel Prices

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