NORDIC STEEL MARKET
ROUNDUP FROM MEPS
Steel prices have recently
held up in the Nordic region according to MEPS. Hot rolled coil
producers are hoping to secure further increases. However,
transaction values are being held back by fierce competition between
Sales tonnages of commodity plate have been poor since the turn on
the year. Lacklustre demand and downward pressure from Russian
imports are likely to result in lower selling figures in the second
The mills have had no success in raising cold rolled coil values as
raw material costs have fallen and demand remains subdued. Service
centres are offering very competitive selling figures in an effort
to increase market share. Sales of coated coil to the automotive
sectors are good. The mills are offering low prices to end-users, in
an effort to secure more direct business.
Declining scrap costs and lacklustre steel consumption have resulted
in wire rod producers failing to secure price rises in March. Export
volumes of structural sections and beams have increased due to the
shift in exchange rates between the US dollar and European
currencies. The lower input costs have had no effect on domestic
selling figures for this product.
Despite construction activity being reasonable, rebar selling
figures have decreased, affected by the rapid drop in scrap figures.
Competition for orders, in the region, remains strong. Manufacturing
activity is subdued. As a result, demand for merchant bar is
lacklustre. However, sales tonnages remain higher than at the same
time last year.
Steel Review Supplement - March Edition
Also See: MEPS
Nordic Index and MEPS Nordic
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