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Home > MEPS Steel News - 23.05.2013

NORTH EUROPEAN STEEL PRICES UNDER DOWNWARD PRESSURE AGAIN – MEPS

European flat products prices have come under downward pressure during the past month. Selling values in central and southern parts of the region have recorded significant reductions. However, as is often the case, there is a time lag between movement in transaction figures in the Nordic region and those in the rest of Europe. Some supply chain participants in Sweden and Norway have reported no change, as yet. However, the weakening of their currencies means that, in effect, selling values have slipped in euro terms.

There has been little improvement in demand for coil products from the manufacturing sector. Car making activity is mixed. Steel buyers in Europe report plenty of offers from Asia at prices lower than those from local producers.

Demand for commodity grade plate is patchy, although steady sales of higher quality steels for oil and gas applications have been reported. There has been reasonable consumption by some producers of trucks and yellow goods. Transaction values, in general, are down.

Basis figures for drawing quality wire rod are unchanged but prices for all other long products reviewed have fallen, this month. While there has been some increase in construction activity following the extended winter period, the general seasonal upturn in demand has been disappointing. Falling scrap costs have further contributed to softening transaction values for finished products.


Source: European Steel Review Supplement  

Also See: MEPS Nordic Index and MEPS Nordic Steel Prices

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