Steel Strip

Global economic uncertainty is causing steel consumption to slow in Europe. Moreover, buyers are reluctant to place forward orders on the mills, given the current financial climate. Market players feel that worldwide production cuts will hold the key to price stabilisation. Although the mills are curbing capacity, the results are unlikely to be felt until [...]

ECONOMIC TURMOIL LEADS TO WEAKNESS IN EUROPEAN STEEL MARKET latest MEPS report
Despite earlier market expectations to the contrary, European demand has not picked up following the long holiday break. This is partly due to grave concerns over the financial situation across the region. The mills are experiencing low levels of order entry and, consequently, some [...]

Most consuming sectors of hot rolled coil are healthy with the exception of the pipe making industry, which is weaker than the others. The steel companies, seeing that demand was not huge, have revised their figures downwards to a greater extent than was anticipated by several buyers. Stocks at the service centres are relatively low. [...]

There is something of an impasse in the west European flat products market as customers prefer to sit on the sidelines rather than place business at the inflated prices being demanded by the domestic producers. Consequently, order intake at the mills is slow. Many companies have stocks that are adequate for now. These were purchased [...]

 
The MEPS - EU Average Hot Rolled Coil transaction price soared by almost €100 per tonne in February. Buyers are anticipating further increases in domestic values of flat products in the second quarter as steelmakers make large upward adjustments, in line with higher raw material costs. The EU mills are currently busy because of the [...]

Tata have announced a £95 price increase on structural steels in the UK. The increase in prices will take effect on all deliveries from March 6th 2011.
The company are quoting the rising costs of raw materials as the main reason for the price hike.
Flat product prices have risen by an average of around £60.00 already [...]

Steel prices are set to soar by 60 per cent this year according to industry experts.
The expected price rise in 2011, to an average of just under £610 a ton, has been caused by demand in the Middle East and the Australian floods which have shut down coal mines needed in steel production.
If the predictions [...]

Meps Forcast
The MEPS – World Average Carbon Steel Price is forecast to exceed $US 1000 per tonne in the third quarter, according to preliminary analysis by the company. This figure compares with an annual average in 2010 of $US 733 per tonne and an ‘all-time’ high in 2008 of $US 1160.
The sharp rise in steel [...]

The recent floods in Australia are having a major impact on coal mining. As Australia is one one the top five coal exporters in the world this is certain to have an impact on the availability of “coking coal” used in the manufacture of steel.
Whilst the most immediate effect will be felt in the South [...]

 
Demand continues to remain slow, and the steel producers continue to mumble about price increases:
Strip mill market values in several West European countries slipped during the summer and look as if they may continue to drift for some products. Producers are expected to try for some small improvements over the next few weeks as negotiations [...]