FRANCE May 25 2016 4:22 PM
PARIS (Scrap Register): French hot rolled coil selling figures rose significantly, in early May, said MEPS International in a snippet. A number of suppliers claim there is no capacity available for additional orders before the summer. A further price hike is anticipated next month, by those mills that still have availability.
Commodity plate selling figures soared. Some re-rolling mills are reported to have temporarily stopped quoting because of expanding delivery lead times and a lack of visibility on slab prices. Meanwhile, a lack of material at the ports allowed local producers to substantially hike cold rolled coil transaction values.
Supply of coated coil is tight. Some large users of this product have been forced to source more expensive Chinese material. French spot prices rose sharply.
Increases were noted for drawing quality wire rod in France. Similarly, recoil numbers advanced significantly, month-on-month. Order books are filling up more quickly now, even though activity remains weak in some sectors. Availability is problematic.
June mill order books are three quarters full, for structural sections, and some stockholders are placing orders without agreeing prices. However, end-user activity is sluggish. Demand is mainly fuelled by low inventories and speculative purchasing.