Steel Strip

Came across this interesting article on the BBC website today
By Tim Bowler Business reporter, BBC World Service
Are the world’s iron ore mining companies putting the world recovery in jeopardy, by forcing up prices?
Iron ore is a key component in the manufacture of steel, and is used in construction and heavy [...]

EU STEEL COIL PRODUCERS FACE HIGHER INPUT COSTS AS DEMAND COLLAPSES
Market sentiment has been knocked by the recent economic turmoil and sovereign debt issues in the eurozone. Strip mill product prices are fairly flat this month. Domestic producers are still keen to lift basis values significantly for the third quarter. However, most steel consumers and [...]

TATA Corus has increased transaction prices for reversing mill plate by GBP 60 per tonne on all new orders from June 4. It said “The increase is driven by further rises in raw material costs and continued improvements in demand for steel plate.” M Paul Parkins, Corus Commercial [...]

The latest MEPS report suggests that steel prices may have reached a peak. Despite this Northern European Mills continue to pursue price increases for the third quarter:-
Excerpt:
In Western Europe, producers are talking up period three prices but firm negotiations are only just starting. Customers believe that some of the numbers being proposed are far [...]

The latest MEPS article is reporting that the mills are talking up third quarter prices
MEPS - EU AVERAGE STEEL PRICE UP €55 PER TONNE BUT CLOSE TO PEAK
The mills are talking up third quarter prices for strip mill products but firm negotiations are not yet underway. Their final proposals will depend on the level that [...]

Stainless steel transaction prices have climbed steeply over the past twelve months. Although improvement in demand since the darkest days of the recession has been a contributing factor, the major influence on the selling value of stainless steel has been the cost of raw materials - most notably, nickel. The [...]

The latest MEPS report, shows rapid price increases
Despite relatively low activity levels and poor final demand, flat product steel prices are ascending rapidly. This trend is likely to continue into the third quarter as period two is virtually sold out at most European mills. Producers are justifying the increases on the grounds of their escalating [...]

LATEST REPORT FROM MEPS
The latest business in the US has been settled at marginally higher transaction values than in February. Producers are pressing for further increases next month, citing their growing input expenditure. They are claiming full melting schedules in the facilities open at present. However, several previously idled furnaces are set to come back [...]

Recent and anticipated escalating international raw material costs have led to sharply rising European steel prices against a backdrop of stagnant demand. At present, this is causing a real dilemma for the mills, distributors and end-users. Difficulties associated with obtaining credit insurance are exacerbating the low level of business activity. Many market players question whether [...]

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 [...]