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Home > MEPS Steel News - 23.05.2016

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 The producers have, from time to time, withdrawn their offers in order to assess the level of increase that the market will bear.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.



Source: European Steel Review Supplement 
- May Edition

Also See: MEPS Nordic Index and MEPS Nordic Steel Prices

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