US steel prices set to slide
A
MEPS (International) product story
Edited by the Engineeringtalk editorial team
Jan 13, 2005
In the flat products category, inventories in the USA are nearly double the figure recorded at this time last year, reports MEPS in its Steel Prices Online.
In the flat products category, inventories in the USA are nearly double the figure recorded at this time last year, reports MEPS in its Steel Prices Online.
Canadian market activity remains subdued.
Consequently, MEPS forecasts a continued slow decrease in transaction values over the next 12 months in the strip mill sector.
MEPS has reports that discounts are being given on published scrap surcharges in the USA.
Canadian supply is now plentiful from both local and overseas sources.
All the above factors reinforce the analyst's belief that the price situation will continue to move downwards in the coming months.
Plate values are much firmer.
MEPS' forecasts in December still indicate a slow but steady decline commencing next Spring.
In the long products class, demand is improving in the USA in some but not all segments of the construction industry.
Canadian building activity is dull.
These features were already built into MEPS' forecast of a price slippage for all four product categories over the Winter period.
Price consolidation and, in some cases, small improvements are still expected through the Spring and Summer of 2005.
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