Product category:
Engineering Industry Reports and Surveys
News Release from: MEPS (International)
Edited by the Engineeringtalk Editorial
Team on 13 January 2005
Asian steel market to see further price
rises
Chinese flat products inventories are low and consumption is satisfactory, according to MEPS Steel Prices Online.
Chinese flat products inventories are low and consumption is satisfactory, according to MEPS Steel Prices Online Following Baosteel's lead, several other major steel makers have now lifted selling values
This article was originally published on Engineeringtalk on 4 Nov 2005 at 8.00am (UK)
Related stories
Stainless crude steel production trends analysed
Global stainless crude steel production is expected to reach 25 million tonnes this year and forecast at 26 million tonnes in 2006, according to MEPS (International).
Global steel industry analysed
The global steel industry has been subject to a number of significant changes since the start of the millennium. This article looks are market trends.
Japanese steel prices have steadied over the past few months and are likely to remain stable through most of the first quarter.
The South Korean economy is slow but steel consumption is forecast to keep firm during 2005.
Prices in Taiwan are expected to rise in the first quarter as the mills try to get ahead of cost rises in the New Year.
The further strong rise in the value of most Asian steel prices has prompted MEPS to lift its forecasts.
The analyst still believes that further price advances are expected early in the New Year and should extend into early Spring.
However, a steady reduction is predicted over the last three trimesters as oversupply develops in the region.
Exchange rates also had an impact on long products.
Wire rod and merchant bar values slipped a little in national currencies in China and Taiwan in MEPS' December reports.
These declines were more than offset by the decrease in the value of the US dollar.
MEPS maintains its 12-month forecast for wire rod - expecting a slow but steady fall in the coming months as oversupply develops in the region.
MEPS' predictions for 2005 for the remaining three products show a price decline through the Winter period with the figures stabilising due to improved construction later in the year.
• MEPS (International): contact details and other news
• Email this article to a colleague
• Register for the free Engineeringtalk email newsletter
• Engineeringtalk Home Page
Search the Pro-Talk network of sites
