meps: North American flat steel prices drop 4% in May
Jun 8, 2011
North American flat steel product transaction values declined last month as domestic mill activity softened. Customers’ order volumes slowed ahead of the traditional summer holiday period. Buyers kept inventories lean because of expected further negative price movements. A number of import offers were accepted at attractive prices.
In the short term, mills are likely to announce increases in transaction values in an attempt to stop the price erosion that set in during May. However, these moves are expected to be unsuccessful due to weakening demand.
A continuation of the current high price levels in the North American market would attract increased volumes of imports and put negative pressure on steel selling figures. Consequently, further decreases are anticipated in transaction values over the next few months.
MEPS (international) ltd. is an
independent supplier of steel market information.
For more information please visit MEPS website.
MEPS (international) ltd. is an
independent supplier of steel market information.
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