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MEPS NORTH AMERICAN CARBON STEEL PRICE FORECAST FOR JANUARY 2005
11 February 2005 - MEPS (International)
| In the flat products category, January hot strip prices fell marginally in line with our expectations. Plate figures, in contrast, drifted downwards despite booming market conditions in the US. |
In the flat products category, January hot strip prices fell marginally in line with our expectations. Plate figures, in contrast, drifted downwards despite booming market conditions in the US. Falling scrap surcharges more than offset basis price hikes gained by the local mills. Cold rolled and hot dipped galvanised values fell this month as inventories rose due to a fall in demand from auto producers. Surprisingly, electro-zinc coated sheet figures held up. Further small decreases are anticipated next month for all products in the strip mill segment. High inventories continue to plague this category. Further modest price reductions are still forecast over the next twelve months. The weak currencies should mitigate against a substantial rise in imports in the short term. Hot rolled plate values should continue at or near current levels into the Summer months before falling marginally as supply becomes easier. In the long products segment, prices of wire rod in mesh grades faltered in
January due to an increase in foreign competition. Further slippage is expected over the next few months before turning up marginally in the Summer. The January price decreases for rebar and merchant bars were more substantial than we anticipated. Further small decreases are predicted. Nevertheless, our forecasts for the full year are little changed. This month's sections' price was close to our previous estimate. Our forecast has been uprated in this issue due to probable improvement in demand later in the year.
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About: MEPS (International)
MEPS (International) LTD is a leading consultancy company operating in the steel sector worldwide. The organisation was formed in 1979. Over the years we have undertaken a wide range of studies covering all aspects of the global steel scene. Our independence is the cornerstone of the business.The steel industry is the nucleus of our business. From the core activity we provide a range of services and advice to clients through our multi-disciplinary team of consultants. The areas in which our organisation has built up considerable expertise are highlighted below: Steel Market Prices
Steel Market Trends
Steel Market Distribution
Steel Manufacturing Costs
Technological Trends in Manufacture
Raw Materials
Steel Trade
Steel Products
Steel Consuming Industries
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