GERMAN STEEL PRICE ROUNDUP FROM MEPS INTERNATIONAL LTD
According to MEPS, market
activity in Germany was quiet in February. Customers had no urgent
need to purchase.
Basis hot rolled coil figures were unchanged in February, compared
with the previous month. Steelmakers were unable to implement their
announced rise. The weakening euro was beneficial for the pipemakers,
who were able to obtain overseas orders. Having conceded discounts
in January, plate producers held on to those figures during
negotiations in the following month.
Demand for cold rolled coil failed to recover, with the exception of
auto sheet. Distributors struggled to make acceptable profits.
Meanwhile sales of coated coil to car manufacturers continued to
perform very well. However, demand from the construction sector was
Drawing quality wire rod selling figures were unchanged
month-on-month. Recoil values have succumbed to further negative
pressure as scrap prices have not firmed.
Beam producers were able to lift effective values in February,
despite strong competition for the little business available. The
construction outlook is better for later in the year.
Domestic rebar producers tried to boost prices, based on a lack of
import availability. However, resistance from customers was high
because they were unable to pass on any increases. Negotiations were
After finally stabilising merchant bar prices in January, mills
secured a small increase in February. However, purchasing activity
remained cautious as some buyers felt the negative trend may return.
European Steel Review
- February Issue
MEPS - EU Steel
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