UNITED KINGDOM June 25 2015 9:40 AM
LONDON (Scrap Register): Market conditions are relatively steady across the Nordic region, according to MEPS. The volume of enquiries and orders, for hot rolled coil, has begun to reduce as the summer holiday season approaches. Supply chain participants do not expect any major changes in market conditions during the third quarter.
Commodity plate consumption is fair. Manufacturing has shown signs of recovery but the construction sector remains weak. Competition between suppliers has been increased by imports from Russia.
Demand for cold rolled coil is largely stable. Delivery lead times are now stretching beyond the summer break. Nevertheless, the producers have been unable to increase selling values, as yet.
Drawing quality wire rod demand is satisfactory, albeit slightly below historical levels. Supply chain participants expect activity, during the next three months, to continue at a similar level. Consumption of structural sections is fair. Delivery lead times are quite long, the mills are sold out until the summer holidays.
There is some upward pressure on rebar prices from higher scrap costs. Consumption is fair. However, imports from Russia and Belarus are plentiful. In Sweden, sales volumes to infrastructure and civil engineering projects are good.
Merchant bar market activity is steady and is expected to continue at the same level after the summer break. Sellers in Finland report some improvement in demand from the manufacturing sector. Meanwhile, in Norway, consumption from OEMs is steady at a mediocre level.