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Home > MEPS Steel News - 23.04.2013

FURTHER REDUCTIONS IN NORTH EUROPEAN STEEL PRICES - MEPS

Transaction values for almost all steel products recorded moderate decreases, in April, in northern Europe. The usual, seasonal upturn in activity in the early part of the year has not occurred. Demand from all the major consuming sectors for strip mill products is weak. Distributors and service centres are aiming to minimise their inventories. Delivery lead times from the mills are short. Import offers from Asia are keeping downward pressure on prices from Western European producers. The mills will need to increase selling values soon in order to ensure that they cover their production costs.

Hot rolled plate prices have been far more stable in recent weeks. Sales volumes to manufacturers of trucks and yellow goods have been reasonable, in some areas. Demand from linepipe producers is expected to pick up in the second half of 2013. The mills hopes of raising selling values have been frustrated by the presence of competitive offers from Eastern Europe and the Far East.

The continuing wintry conditions in northern Europe have slowed construction work and, consequently, reduced demand for sections and rebar. Activity is predicted to increase when the weather improves. Suppliers face competition from Germany and Eastern Europe. Consumption of merchant bars, by the manufacturing sector, is subdued. Prices slipped further, this month but the bottom of the current cycle is thought to be close.

Source: European Steel Review Supplement  

Also See: MEPS Nordic Index and MEPS Nordic Steel Prices

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