NORDIC STEEL MARKET
ROUNDUP FROM MEPS
Business activity levels are
stable in northern Europe, according to MEPS. In Denmark, the mills
managed to achieve a small part of their proposed price increase for
hot rolled coil, due to material being quite scarce. Elsewhere,
selling figures were unchanged, month-on-month, in local currency
Commodity plate transaction values are unchanged from January, in
the majority of countries researched. Demand is slow. Low-priced
material is being offered from suppliers in Russia and China as they
try to establish new markets. Transaction values remain depressed in
Norway. The outlook for the first half of 2015 is gloomy.
No significant upturn in demand for cold rolled coil is foreseen in
the first half of 2015. Most suppliers in Scandinavia were
unsuccessful in their attempts to increase selling figures. However,
producers in Denmark secured a small price hike. Hot dipped
galvanised steelmakers struggled to implement planned increases
despite relatively steady demand.
Selling figures for drawing quality wire rod were unchanged in
February. Activity in the construction sector is disappointing.
Consequently, demand for mesh is subdued and is expected to remain
so for the foreseeable future.
Order intake for structural sections is at a reasonable level.
Rolling schedules are filling up. An uptick in transaction values
was secured before the reduction in raw material expenditure had any
Rebar prices have not changed, month-on-month, following subdued
demand and a drop in scrap costs. An increase is unlikely in the
short term. There are competitive offers, in the market, from
producers in Russia and Belarus.
Merchant bar prices have bottomed out. A small increase has been
accepted by buyers. The mills are likely to seek further advances in
the near term.
Steel Review Supplement - February Edition
Also See: MEPS
Nordic Index and MEPS Nordic
Free Sample copy
European Steel Review Supplement
up for free MEPS steel news alerts