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Home > MEPS Steel News - 20.02.2013

NORTH EUROPEAN COIL PRICES CONTINUE TO RISE DESPITE SUBDUED ACTIVITY – MEPS

Producers have increased their selling figures for strip mill products, to customers in northern Europe, driven by the need to cover costs, rather than by consumption. In Scandinavia, demand from the construction sector has been adversely affected by the winter weather. There has been some restocking activity. Sales to the Swedish and German auto supply chains are weak compared with one year ago. The MEPS Nordic Average transaction value for hot rolled coil increased by slightly more than the figure for cold rolled coil, this month. The strength of the euro against the US dollar is likely to make imports more attractive in the short term.

The market for hot rolled plate is weaker than that for strip mill products. There is a shortage of project work. Demand from yellow goods manufacturers is weak. There is plenty of material available, swelled by offers from southern Europe. The MEPS Nordic Average transaction value for hot rolled plate decreased, this month.

There is plenty of spare rolling capacity for structural sections in northern Europe. It is possible to book material for almost immediate rolling. There has been the usual seasonal downturn in consumption of reinforcing bar in Scandinavia as the winter weather has slowed construction activity. Scrap costs have fallen. Selling values are down and are expected to be under further negative pressure. Underlying demand for merchant bars is weak. The MEPS Nordic Average transaction figures, for all long products reviewed, fell slightly in February.

Source: European Steel Review Supplement  

Also See: MEPS Nordic Index and MEPS Nordic Steel Prices

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