DOUBLE DIGIT STEEL PRICE
INCREASES FORECAST FOR NORDIC FLAT PRODUCTS - MEPS
According to MEPS, steel producers across the Nordic region have
managed to push through substantial price rises for cold rolled
coil, in December. Advances were supported by growing raw material
outlay and strong demand.
Sales tonnages for hot rolled plate are satisfactory. Increased
prices are being justified by rising mill input costs. Substantial
hikes are predicted for quarterly contracts, effective from January
Despite the imposition of antidumping duties, import offers for cold
rolled coil are now viable in Western Europe. Business activity is
buoyant for the time of year.
Supply of galvanised coil remains tight. Market participants expect
shortages to develop after the demands of the carmakers are met.
Restricted availability, together with rising raw material costs, is
supporting the price increases.
Moderate rises in wire rod selling figures were agreed. Further
significant increases are in the pipeline. Demand is quite strong
and some regional mills will close for two weeks, around the
Christmas period, thereby restricting supply.
Limited supply, of steel beams, is helping to support price hikes –
driven by rising raw material costs. Business activity levels are
Rebar selling values increased, in December as a result of
soaring raw material costs, despite typically low winter
Steel Review Supplement - December Edition
Also See: MEPS
Nordic Index and MEPS Nordic
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