NORDIC STEEL MARKET
ROUNDUP FROM MEPS
Steel prices have recently
held up better in the Nordic region than in continental Europe,
according to MEPS. However, consumption of hot rolled coil is
limited leading to increased competition between suppliers. The
level of sales, in Sweden, has been boosted by demand from the
construction sector due to the continuing mild weather.
Market activity, for cold rolled coil, is decreasing. Customers are
trying to minimise their inventories as the year end approaches.
Prices are falling more slowly in Scandinavia than in the rest of
Europe. Supply chain participants in Finland think that the market
will be strengthened by the rationalisation arising from the merger
between SSAB and Rautaruukki.
The commodity plate market is weak. The conflict in Ukraine
continues to adversely affect the exports of agricultural equipment.
Local markets are subdued for makers of farming machinery and other
Wire rod producers and customers will close for two weeks around
Christmas and the New Year. This may help to balance supply and
demand. Order intake, in Sweden, has been adversely affected by the
precarious position of the new government. Structural section prices
have recently edged downwards as a result of decreasing scrap costs.
However, buyers expect producers to seek higher prices in the near
Suppliers expect to shift significant tonnages of rebar in December.
However, with scrap costs reduced, rebar values have slumped. Demand
remains fair, in the parts of Norway where wintry conditions have
not arrived. Merchant bar consumption is disappointing. Sales
volumes have decreased as the year-end approaches. Declining raw
material costs have contributed to reduced selling values.
Steel Review Supplement - December Edition
Also See: MEPS
Nordic Index and MEPS Nordic
Free Sample copy
European Steel Review Supplement
up for free MEPS steel news alerts