Nordic HRC Steel producers price would further rise up in July

Steel purchasing activity is starting to slow across the Nordic region due to the onset of the summer vacation season. Hot rolled coil producers quoted further price increases, in July, but the market response was not enthusiastic, said MEPS International.

Hot rolled plate selling figures were stable. Sales tonnages will be down, through the summer holiday period, but they are expected to pick up, thereafter.

Sales volumes of cold rolled coil are steady. The price trend is perceived to have peaked. MEPS have reports of spot figures now beginning to soften.

Galvanised coil availability was quite tight, pre-summer, due to robust demand and production outages at Western European mills. Sales to the carmakers remain strong. Local selling figures were unchanged, month-on-month.

Demand for drawing quality wire road was strong, before the summer break. Despite this, selling figures started to drop.

Beam prices decreased, in July, after scrap values slipped throughout June. Demand is fair but has weakened, temporarily, due to the summer holidays.

Supply tightness for rebar eased a little, before the seasonal break. Selling figures suffered a significant downward correction in response to falling scrap costs.

Merchant bar prices recorded substantial downward adjustments, in July, following the rapid and unsustainable increase in the previous months. Underlying demand remains fair.