Strip product supply tightening as prices rise in UK
Spot prices for strip mill products are rising rapidly as stocks dwindle in the UK. Many sizes are not available and stockholders are reluctant to place orders at increased prices when domestic demand remains weak.
The mills are asking for increases in excess of £60 per tonne partly to reflect substantial increases in the price of iron ore. At present they seem “bullish” about the increases when better prices are available selling outside of the EU.
There is more than a little irony in the fact that the Teeside plant has closed at a time when steel supply is tightening in the UK.
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Posted: March 15th, 2010 under Steel Comment, Steel Prices, steel strip.
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