NORDIC STEEL MARKET
ROUNDUP FROM MEPS
Market conditions continue
to be challenging across the Nordic region, according to MEPS.
Cheaply priced imports of hot rolled coil, being offered in northern
Europe from Russia and China, are applying negative pressure on
local selling figures.
Purchasing activity for commodity plate is reasonable, but numerous
suppliers are fighting for every order. There is added competition
from Russia and the Far East.
Cold rolled coil end-users are buying only for their immediate
needs. EU antidumping measures may reduce competition for local
producers. The Finnish economy is slowing. Consumption of cold
rolled coil, in this country, is stable at a low level.
Coated coil prices continue to slide and profit margins are under
pressure, for producers and stockists. Sellers in Denmark report
steady demand from the automotive sectors in Sweden and Germany.
Similarly, Norwegian distributors report good sales to this part of
Drawing quality wire rod prices fell. Business activity remains
stable at a reasonable level. Supply chain participants expect the
same market conditions to persist, in the immediate future.
Consumption tends to slow down though as the year end approaches.
Consumption of structural sections and beams is stable but delivery
lead times from the mills have been cut to two/three weeks. Demand
from the construction sector is satisfactory. Lower scrap prices
have placed negative pressure on beam values.
The rebar market continues to be weak. Production overcapacity
persists in Europe. This has been exacerbated by the delivery of
cheap billets from China. Consumption from infrastructure projects
is good, in Sweden. However, falling scrap costs have resulted in
lower rebar prices.
Steel Review Supplement - September Edition
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