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Home > MEPS Steel News - 23.05.2018

MEPS Nordic Average Coil Prices Stabilise, Long Products Slip

Hot rolled coil suppliers pushed for price increases, in Denmark, this month, but most deals were agreed at rollover figures. Regional mills still have spare capacity for second quarter rollings. Russian producers are offering material at competitive selling values. Demand, from the housebuilding and manufacturing sectors, is strong, in Sweden. However, the weakening local currency is leading to more expensive raw materials, while export sales have become more competitive. Consumption of hot rolled coil is fair, in Finland, but competition is increasing. Buyers in Norway are cautious, fearing price reductions, later in the year.

In Denmark, sales of cold rolled coil from service centres’ stock are fair but large projects are scarce. The Swedish economy remains strong. Housing and manufacturing activity are at a high level. The latest price increase equates to unchanged values, in euro terms. Order tonnages are satisfactory, in Finland, and sales are predicted to improve, in the short term. The Norwegian economy is healthy. Consumption of cold rolled coil is strong. However, prices are unchanged, this month, and likely to decline, in the coming months.

Stockists, in Denmark, report a slight slowdown in consumption of hot dipped galvanised coil by the regional automotive sector. Nevertheless, local prices rose, in May. Swedish suppliers recorded good sales to the automotive and building sectors. Producers are raising selling values to take account of the weaker Swedish krona, relative to the euro. Finnish sellers report that demand from the auto supply chains in Germany and Sweden is consistent. In Norway, coated coil sales, to the automotive industry and other regular outlets, are stable.

In Denmark, prices for sections and beams are under downward pressure from competitors in Spain and Italy, who are looking for new markets, to replace potential lost sales to the United States. Building sector activity is strong, in Sweden. Nevertheless, selling values, in euro terms, are falling. Sales to the construction industry are satisfactory, in Finland. No price cut has been reported, in Norway, but the trend is believed to be turning downward.

Reinforcing bar prices, in Denmark, are depressed by reduced scrap costs and weaker-than-expected demand. Several projects have been delayed or postponed. Delivery lead times are down to three or four weeks. Infrastructure activity is buoyant, in Sweden. Nevertheless, rebar values softened, in euro equivalent terms, this month. Housebuilding activity is at a high level, in Finland. Infrastructure demand is moderate. Market participants report an increase in the volume of material being offered from Eastern Europe and Russia. Sales activity is reasonable, in Norway.

Source: European Steel Review Supplement 
- May 2018 Edition

Also See: MEPS Nordic Index and MEPS Nordic Steel Prices

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