EU steel prices set to rise
A
MEPS (International) product story
Edited by the Engineeringtalk editorial team
Dec 2, 2004
EU producers intend to raise flat products basis values on all products for deliveries in the first quarter, according to MEPS Steel Prices Online.
EU producers intend to raise flat products basis values on all products for deliveries in the first quarter, according to MEPS Steel Prices Online.
The company expects to be reporting price hikes next month in the range 3 to 5% on transaction values.
Plate remains the strongest product with booming home and export sales for the mills.
Further modest rises are expected in January 2005.
MEPS believes that the market will stay firm into the Spring of next year before deteriorating steadily over the next few months.
MEPS forecast figures this month are above those in October due to the continued firm demand from line pipe producers and shipbuilders.
MEPS now expects the price hike for deliveries in the first trimester of 2005 to be in the region of Eur 30 per tonne when all deals are completed in the strip mill segment.
Consumption is forecast to stay solid in the short term.
The threat from imports remains quite meagre over the next few months.
In the long products category, bar prices have come under negative pressure in recent weeks.
It has been most noticeable in the rebar segment.
Further, but more modest decreases are predicted through the Winter period.
For all other long products the actual November figures were broadly in line with MEPS estimates last month.
We retain our forecasts for the year ahead at similar values to those in the previous tables.
This equates to a steady decline in prices during the first trimester of 2005 before levelling out in Spring and Summer.
MEPS forecast indices are based on a constant US dollar exchange rate into the future.
However, a recent decline in the US dollar value against most major currencies has translated into increased figures in all MEPS Carbon Steel Price Forecasts for November - to a greater or lesser degree, depending on region.
This is expected to also impact on the December values.
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