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Home > MEPS Steel News - 23.01.2014

NEW YEAR BRINGS GENTLE UPTURN IN NORTH EUROPEAN STEEL PRICES MEPS

Steel market participants have, for some time, been predicting a moderate pickup in steel sales volumes and prices, in northern Europe, during the first half of 2014. Although there has been no spectacular increase in tonnages, the mills schedules are filling and delivery lead times are lengthening. Selling values for most products have recorded small advances, in January, in the majority of countries reviewed. In all other cases, gains are anticipated in the near future.

Coil producers need increased prices in order to be profitable. Accordingly, they have proposed higher numbers for January or first quarter contracts. While the new figures were not immediately accepted in all instances, buyers concede that values will rise in the near term. Offers from third country suppliers are only marginally cheaper than from European mills and are, therefore not attractive.

The market for reversing mill plate remains weak compared to that for strip mill products. Transaction values have risen slightly in Sweden. Market participants in other countries foresee possible small increases during the first half of this year, although some sellers believe they may have to wait until the second quarter to achieve higher volumes and prices.

There has been no severe winter weather, so far, in northern Europe. Consequently, demand for long products, from the construction sector, has held up at a higher level than is normal for this time of year. Furthermore, scrap prices increased in December. As result, transaction values for structural sections rose, in most countries, in January. On the other hand, rebar prices, in most instances remained stable. Merchant bar values have recorded moderate advances, supported by improving demand from the manufacturing sector.


Source: European Steel Review Supplement  

Also See: MEPS Nordic Index and MEPS Nordic Steel Prices

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