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Home > MEPS Steel News - 02.09.2015

CANADIAN STEEL PRICE ROUNDUP FROM MEPS INTERNATIONAL LTD

Canadian hot rolled coil selling figures held relatively firm in August, according to MEPS. Customers continue to purchase for their immediate needs. There are mixed expectations for future sales. Mills believe that transaction values will move up in the short term. In contrast, service centres are sceptical that any increase will prove possible.

Commodity plate transaction values have plummeted since the fourth quarter of last year. Consumption by the energy and mining segments has deteriorated due to the drop in prices for oil and metals. Imports and short mill lead times are exerting negative pressure on domestic figures. Service centres report low resale margins.

Prices for cold rolled coil declined sharply in the first quarter of this year and beginning of the second trimester. This was due to import pressure and a reduction in steelmaking raw material costs. More recently, the threat from overseas suppliers has eased, somewhat. Despite this, the local mills are looking for orders.

Conditions remain quiet in the wire rod sector. Participants note a lack of direction in the marketplace. Transaction values have been static over the last few months.
Rebar selling figures continued to slip in August. Purchasing is being undertaken for immediate requirements only. There is competition from overseas suppliers.


Source: MEPS International Steel Review - August Issue

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