NORDIC STEEL MARKET
ROUNDUP FROM MEPS
According to MEPS,
purchasing activity is starting to slow across the Nordic region due
to the onset of the summer vacation season. Hot rolled coil
producers quoted further price increases, in July, but the market
response was not enthusiastic.
Hot rolled plate selling figures were stable.
Sales tonnages will be down, through the summer holiday period, but
they are expected to pick up, thereafter.
Sales volumes of cold rolled coil are steady.
The price trend is perceived to have peaked. MEPS have reports of
spot figures now beginning to soften.
Galvanised coil availability was quite tight,
pre-summer, due to robust demand and production outages at Western
European mills. Sales to the carmakers remain strong. Local selling
figures were unchanged, month-on-month.
Demand for drawing quality wire road was
strong, before the summer break. Despite this, selling figures
started to drop.
Beam prices decreased, in July, after scrap values slipped
throughout June. Demand is fair but has weakened, temporarily, due
to the summer holidays.
Supply tightness for rebar eased a little, before the seasonal
break. Selling figures suffered a significant downward correction in
response to falling scrap costs.
Merchant bar prices recorded substantial downward adjustments, in
July, following the rapid and unsustainable increase in the previous
months. Underlying demand remains fair.
Steel Review Supplement - July Edition
Also See: MEPS
Nordic Index and MEPS Nordic
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