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Home > MEPS Steel News - 07.10.2013


US hot rolled coil transaction numbers have moved down slightly since August. Service centre business is reasonable but inventories are more than adequate for now, so mill order entry has slowed. Many buyers believe that by November the market will be susceptible to more price decreases. There are few offshore offers at present.

The US plate mills have hung on to the small rise they implemented in August. Service centre business levels are reasonable but, as inventories are medium/high, buyers do not need to order at present. This could eventually cause mill delivery lead times to shrink. Customers are anticipating a ‘year-end sale’ in December for large purchases. Foreign offers are scarce. There is some thinner material from Taiwan being quoted at around $US780 per tonne for December arrival.

A strong US auto sector is generating increased order volumes for cold rolled and galvanised coil. However, in the general market, consumption remains muted. Now that supply has been restored, we are starting to see some negative pressure on transaction numbers.
US wire rod transaction values have weakened since August, amidst mediocre business levels and competition from offshore, especially from China. A proposed August price rise failed to be implemented.

Several US beam makers announced that they would maintain August list prices into September. This move is reflected in current market transaction values. Demand is flat and recent import competition has not gone away.

Rebar transaction values have not changed in the US. However, the recent filing of trade complaints against Turkish and Mexican suppliers could well ease the present import pressure. Buyers report that the demand situation is lacklustre with material readily available on relatively short lead times.

Source: MEPS International Steel Review

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