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MEPS ASIAN CARBON STEEL PRICE FORECAST FOR FEBRUARY 2005
09 March 2005 - MEPS (International)
| In the flat products sector, the higher than expected raw material cost
increases have prompted us to significantly uprate our forecasts for the
next twelve months. |
In the flat products sector, the higher than expected raw material cost
increases have prompted us to significantly uprate our forecasts for the
next twelve months. We expect substantial price hikes to be put in place
over the next quarter to recover costs. A period of stability is then
anticipated into the Autumn, before falling slowly around the turn of the
year and beyond. In February Chinese prices were firm and showing an upward tendency. Major
price increases have already been announced in Japan. Domestic prices in
South Korea were already expected to rise as a result of strong contract
business. A steel price hike has also been indicated in Taiwan. These
factors and higher input costs reinforced our thinking on future price
trends. Our long products forecasts have also been uprated but by a smaller amount
compared to flat products. This is because demand in the construction
markets of South Korea, Japan and Taiwan is flat. Moreover, growth in
construction in China is likely to continue but at a considerably slower
pace. Moreover, a degree of oversupply has built up in the region for most
long products. This should keep prices in check. However, the rise in raw
material costs will put upward pressure on steel selling values in the short
term and a price recovery is anticipated on all products throughout the
Spring and into the Summer. Source: MEPS - STEEL PRICES ON-LINE (regional steel price tables &
forecasts)
http://www.meps.co.uk
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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