NORDIC STEEL MARKET
ROUNDUP FROM MEPS
According to MEPS, domestic
prices across the Nordic region are near a peak. Hot rolled coil
sellers expect to be busy until the summer vacation begins.
Hot rolled plate selling figures rose as delivery lead times
extended and supply tightened. Furthermore, imports became scarcer
and more expensive.
Material availability of cold rolled coil became more restricted.
Some European producers state that their rolling schedules are full
throughout the third trimester. This helped selling figures to rise
but further increases are unlikely, in the short term.
Galvanised coil transaction values continued to climb,
month-on-month. Sales to the automotive sector are steady and supply
is quite tight. Buyers are considering placing orders from Asian
mills but such material would not arrive until September or October.
Drawing quality wire rod prices rose again, month-on-month. However,
demand is now calmer and the price trend is expected to flatten out.
Delivery lead times for medium sections and beams are stretching.
This helped European mills to secure advances in prices. Demand from
the construction sector is strong. Limited availability was
exacerbated by speculative buying while prices were climbing.
Rebar selling figures are believed to have peaked. Difficulty in
sourcing material has eased a little. Prices are likely to slide in
the near future in response to lower scrap costs.
Delivery lead times for merchant bar are very short. Selling figures
are quite stable but some regional producers have already conceded
Steel Review Supplement - June Edition
Also See: MEPS
Nordic Index and MEPS Nordic
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