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Home > MEPS Steel News - 27.04.2016

NORDIC STEEL MARKET ROUNDUP FROM MEPS

According to MEPS, domestic selling figures across the Nordic region increased, in early April. Advances in hot rolled coil selling figures were being driven by rising mill input expenditure. Further hikes are likely in May.

Rising raw material costs put inflationary pressure on hot rolled plate selling values. Furthermore, there was a lack of competitively priced imports from Russia and Eastern Europe. Demand was fair.

Buyers of cold rolled coil have accepted the mills’ argument that higher prices were necessary in April. However, market fundamentals may not support higher selling figures through the summer. Supply chain participants believe that the current, steady level of demand is likely to persist for the foreseeable future.

Prices for galvanised sheet and coil have increased this month and further hikes are likely in the short term. Delivery lead times from regional mills have stretched due to earlier plant outages and strong demand from the automotive sector.

Order volumes for drawing quality wire rod are good, in Scandinavia and northern Europe. Suppliers from Russia and Ukraine have raised their price offers, substantially. Domestic selling figures advanced in April and are expected to rise again in May.

Increases in structural section transaction values have been justified by growing mill input expenditure. Delivery lead times have lengthened by 1 or 2 weeks. Producers are likely to seek further, substantial hikes, in the near future.

Sales volumes of rebar are steady, rather than recording the usual, seasonal pickup. Nonetheless prices have risen, due to growing scrap costs, and fundamentals in the wider European market.

Consumption of merchant bar is relatively stable. Despite this, buyers accepted the steelmakers increased price offers. Further advances are likely, as the mills attempt to reverse recent cuts in selling figures.




Source: European Steel Review Supplement 
- April Edition

Also See: MEPS Nordic Index and MEPS Nordic Steel Prices

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