Steel Strip

The latest MEPS report echoes fears that we currently have regarding Steel Prices :-
Transaction prices for most steel products increased in September in northern Europe. Producers have restricted their output since the onset of the international financial crisis, while stockists and end-users have reduced their inventories to a minimum. Delivery lead-times have increased as the [...]

Sept. 18 (Bloomberg) — Steelmakers face a slow recovery from the worst slump in demand since World War II as industry struggles to get funding for capital investment, according to Rautaruukki Oyj Chief Executive Officer Sakari Tamminen.
“The freefall has stopped and demand has leveled off at pretty low levels compared to where we were,” [...]

Thousands of workers at Corus are to be balloted on industrial action over the steel group’s plans to close its final salary pension scheme to new entrants.
Leaders of the Community, Unite and GMB unions decided at a meeting in London to oppose the proposed changes.
They said in a statement: "Corus should be fully aware [...]

According to MEPS double digit steel price hikes have been recorded for the July to September period in EU flat products sector. Most of them have occurred in recent weeks as customers started to reorder after the August summer break. The increases have not been generated by significantly higher real demand. The main driver has [...]

We have just heard that Corus are to increase strip mill prices by £30 to £50 dependant upon grade.
Increased demand due to customer destocking is given as the reason.
At a time when some grades are in short supply we have little doubt that they will succeed in implementing the increase. However at a time when [...]