NORDIC STEEL MARKET
ROUNDUP FROM MEPS
Market conditions have
weakened across the Nordic region, according to MEPS. Lacklustre
demand and low raw material costs has led to softening hot rolled
coil price. Supply is plentiful.
Demand for commodity plate is steady at a moderate level. Prices
have been negatively affected by plentiful supply and the general
economic malaise in Europe. Cheap imports are available from Russia
and Eastern Europe.
The European Union’s antidumping investigation into cold rolled
coils from China has led to some tightening of supply. Distributors
do not foresee an upturn in the market in the short term. In
Finland, the number of offers of Russian material has increased, as
producers from that country try to generate more western currency.
Meanwhile coated coil demand from car makers continues to be strong.
Business activity, for drawing quality wire rod, remains stable at a
reasonable level as it has so far this year. Supply chain
participants expect the same market conditions to persist, after the
summer break. Consumption in the final quarter, though, is typically
In the structural sections market, demand from the construction
sector is quite subdued. Some mills have been seeking price
increases, in Norway. These have not been accepted, so far. Buyers
are unsure whether advances will be agreed, in the near term.
The rebar market is quite stable. Demand is fair. Producers tried to
secure small price increases in July but were not successful. Scrap
expenditure has reduced, in Finland. Furthermore, local suppliers
are competing with cheaper imports from Russia. Sales volumes have
grown, in Norway. Demand from infrastructure and general
construction projects has been supported by increased government
investment. Market participants believe this upturn will continue.
Steel Review Supplement - July Edition
Also See: MEPS
Nordic Index and MEPS Nordic
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