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Contradictory signals emanating from European steel market |
| WRITER |
administrator |
DATE |
2009-11-18 08:30:49 |
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Contradictory signals emanating from European steel market
18 Nov 2009
During last few days, contradictory reports are emerging for different products in European market.
On one hand, there are sudden and sharp price increases for scarp, pig iron and billets. Billet prices went up by USD 20 per tonne to USD 25 per tonne to reach almost USD 450 per tonne CFR FO Italy after a period of low of USD 400 per tonne. Pig iron prices also went up by USD 20 per tonne to reach USD 285 per tonne CFR FO and market players expect to see USD 310 per tonne eve soon. In addition, Turkish buyers are already paying USD 290 per tonne CFR FO for good HMS 1/2 and seems that price are still edging up
On the other hand some other products are in deep crisis and prices are falling to almost minimum record. Negative trend is likely to push the prices of merchant bars below the 100 per tonne mark. Beams are also reported at their historical minimum level as some Italian H beams producers have been able to sell during last month only 25% to 30% of their installed monthly capacity.
Flat products are also going through contradictory situations
1. HR is well in demand and EU and CIS producers are asking for higher prices, trying to get closer to EUR 280 per tonne CFRFO. However third countries suppliers such as Mobarakeh and some Chinese Mills are still quoting prices around EUR 360 per tonne CFR FO, which is apparently hindering general price increase.
2. HDG is also under upward pressure, with Chinese Mills asking for increases of EUR 10 per tonne to EUR 20 per tonne. Buyers are reluctant to pay, however the general feeling is that prices would definitely go up.
3. Plates are on the contrary remaining basically on the same levels. A possible help for a next round of positive trend could come from the still low production levels of main plate producers of EU and neighbouring areas including Ukraine.
As usual a right prediction is extremely difficult. However, looking at the levels of consumption, we don't see any possible better scenario in the short period.
To keep tab on steel prices in Europe, subscribe to services of www.steelprices-europe.com by registering or sending a mail to admin@steelprices-europe.com with full contact details. Please note that this is a paid service with subscription charges of EUR 500 for 12 months.
Resource from www.steelprices-europe.com |
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