Latest steel price trends reveal mixed picture
A
MEPS (International) product story
Edited by the Engineeringtalk editorial team
Nov 10, 2004
Flat products steel prices increased in most countries in October and the outturn was generally, above MEPS predictions prepared in September.
Flat products steel prices increased in most countries in October and the outturn was generally, above MEPS predictions prepared in September.
Steel mills were able to extract higher prices from customers who came to the bargaining table late for fourth quarter deliveries.
MEPS said it expected agreements in December for first quarter supplies and they will be higher than the figures in the previous trimester.
Mill order books continue to be quite solid for both strip and plate products.
MEPS said its assessment was that the next price rises could be the last in this cycle for the strip mill products.
Small price reductions are anticipated when agreements are made for the second quarter.
For plate products the market may stay stronger for longer.
MEPS added that it did not expect any decreases to be negotiated in this category for at least another six months.
The key market segments of shipbuilding and linepipe for the oil and gas industries should remain firm whilst the construction segment is more unsettled and the pricing scene is patchy for long products across the EU member states.
Sales to the German construction industry are sluggish and are unlikely to pick up in the near term.
The situation in other countries in northern Europe is similar (excluding the UK).
Southern European demand seems to be somewhat better.
The products that have associations with the integrated mills (such as wire rod and structural sections) indicate reasonably firm pricing tendencies in the short term.
In contrast, those served mainly by the electric melting units suffer more from the vagaries of the scrap market and are currently more prone to price deterioration.
As a consequence, MEPS forecasts prices of reinforcing bars and merchant bars declining steadily through the winter, before picking up slightly as the construction season improves.
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