NORDIC STEEL MARKET
ROUNDUP FROM MEPS
According to MEPS, domestic
steel prices across the Nordic region advanced substantially,
between April and May. Increases in hot rolled coil selling figures
were driven by rising input costs rather than underlying
consumption. Further increments are predicted in the short term.
Spot prices for hot rolled plate climbed steeply and further hikes
are expected, in the near future. Despite this, market participants
are purchasing cautiously because they anticipate a negative
correction later in the year.
Cold rolled coil selling values rose quickly, in May, due to higher
raw material costs and a lack of import competition – notably from
China. Consumption showed signs of improvement.
Demand appears healthy from the automotive sector in western and
northern Europe. Tightening supply is helping the producers achieve
price hikes for galvanised coil and sheet. Further increases are
expected in the near future.
Wire rod delivery times are lengthening, although there is no
apparent upturn in underlying demand. Buyers have reported dramatic
rises in ex-mill prices, in May. The producers have, from time to
time, withdrawn their offers in order to assess the level of
increase that the market will bear.
Customers for structural sections are seeing delivery lead times
lengthening. Producers are lifting their offer prices as each
month’s rolling schedule is filled. Increasing demand from the
construction sector and rising scrap costs are helping the mills
push through price increases.
Steel Review Supplement - May Edition
Also See: MEPS
Nordic Index and MEPS Nordic
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