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Home > MEPS Steel News - 21.03.2013

DOWNWARD PRESSURE ON NORTH EUROPEAN STEEL PRICES – MEPS

Selling values for steel strip mill products in northern Europe came under negative pressure in March following moderate increases in the previous two months. The market for hot and cold rolled coil in the Nordic region remains subdued. Producers were keen to achieve further price hikes but were thwarted by poor consumption. There are some competitive offers from suppliers in Asia, although the delivery lead times deter many buyers. Some sellers in Europe may be prepared to cut transaction figures in order to secure sales. Demand for galvanised sheet, from the auto supply chain and other manufacturing sectors, is weak in Scandinavia.

Sales of hot rolled plate are, mostly, disappointing. However, we have some reports of improving order volumes from energy-related projects and yellow goods makers. Basis values have edged upwards in some countries, resulting in a marginal rise in the MEPS Nordic Average transaction figure.

Ex-mill prices for long products had begun to turn downwards in February: the trend has continued this month. Consumption of structural sections is poor. Leading producers have suspended operations at some units for several weeks in an attempt to balance supply and demand. No seasonal pickup in construction has materialised as wintry conditions continue. Reduced scrap values and competition from Eastern European suppliers are depressing prices for beams and rebar. Sales of merchant bar to the manufacturing sector are weak and transaction figures have slipped.

Source: European Steel Review Supplement  

Also See: MEPS Nordic Index and MEPS Nordic Steel Prices

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