Uptrend continues in NORDIC Steel market

UNITED KINGDOM January 24 2017 4:59 PM

LONDON (Scrap Register): Hot rolled coil selling figures, across the Nordic region, continued to rise in January. Purchasing activity is at a good level. Demand from the construction sector is strong, according to MEPS.

Hot rolled plate prices continued to rise. Mill input costs are increasing. Buyers report competitive offers from Eastern Europe and farther afield.

Cold rolled coil producers pushed for higher selling figures, this month. The EU anti dumping measures against suppliers from China are benefiting local steelmakers. Increases are being passed on, at least in part, to end-users.

Demand for wire rod, during the first two weeks of January, was quiet. However, order placement is expected to pick up quickly due to the onset of new projects.

Steel beam prices increased, supported by the upward movement in scrap costs. Demand is expected to remain steady, at a high level. Sales to the construction sector continued to be healthy.

Rebar suppliers announced scrap-based price increases for January. Good infrastructure and building activity is driving healthy sales volumes.

Merchant bar producers continue to push for rises in selling figures, citing increased raw material costs. Demand from the manufacturing sector is expected to hold up.