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Home > MEPS Steel News - 20.06.2013


Selling values in northern Europe decreased again, in June, influenced by falling scrap costs and sluggish demand. Producers have proposed advances in basis figures in recent months but the negative effect of poor sales volumes has been too great. Furthermore, the depressed state of the global steel market has resulted in very competitive offers of material from Eastern Europe and Asia.

Hot rolled coil prices are weaker than those for other strip mill products. Mills have been forced to cut prices in an attempt to fill their rolling schedules. Buyers of cold rolled coil are waiting as long as possible to place orders, as transaction values continue to slide. Market activity will reduce further as producers and consumers move into the summer shutdown period. Suppliers of galvanised sheet report subdued orders from German and Swedish car makers.

Demand for commercial quality hot rolled plate is not good from any of the main consuming sectors. However, some sellers report healthy consumption by the refinery sector and reasonable orders from offshore applications and mobile plant makers. Consequently, selling figures for the higher specifications are holding up better than those for commodity grades. Demand from large line pipe projects is expected to pick up in the short-to-medium term. Local market prices are being pushed down by cheap quotes for Russian-produced material.

Long product prices have continued to slide, this month. Prices for structural sections are weakening as scrap costs follow a downward trend. The expected seasonal pickup in construction activity, during the spring, did not occur. Sales of rebar are steady but below the normal level of activity for the time of year. Suppliers in Denmark and Norway are optimistic of an upturn in demand, in the short/medium term, due to a projected increase in infrastructure investment. Transaction figures for merchant bars continue to decrease. Manufacturing activity in the region is very weak. Market participants do not anticipate any substantial pickup in consumption during this calendar year.

Source: European Steel Review Supplement  

Also See: MEPS Nordic Index and MEPS Nordic Steel Prices

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