LONDON (Scrap Register): Steel producers across the Nordic region have managed to push through substantial price rises for cold rolled coil, in December. Advances were supported by growing raw material outlay and strong demand, according to MEPS International.
Sales tonnages for hot rolled plate are satisfactory. Increased prices are being justified by rising mill input costs. Substantial hikes are predicted for quarterly contracts, effective from January 2017.
Despite the imposition of anti-dumping duties, import offers for cold rolled coil are now viable in Western Europe. Business activity is buoyant for the time of year.
Supply of galvanised coil remains tight. Market participants expect shortages to develop after the demands of the car makers are met. Restricted availability, together with rising raw material costs, is supporting the price increases.
Moderate rises in wire rod selling figures were agreed. Further significant increases are in the pipeline. Demand is quite strong and some regional mills will close for two weeks, around the Christmas period, thereby restricting supply.
Limited supply, of steel beams, is helping to support price hikes – driven by rising raw material costs. Business activity levels are reasonable.