MEPS are reporting that tightening steel supplies in the US are starting to concern service centres and end users alike. This has led to a $20 increase upon which rising import volumes have yet to impact. It is thought that mill-side supply controls are a more significant factor than higher demand. The situation in Canada is similar with the added issue of some domestic production problems.
As previously reported the EU mills have succeeded in imposing a quarter 2 increase of around €25 and claim to be fully booked. This means it is likely that a further price rise is “on the cards” for the third quarter, and lengthening lead times and “spot market” shortages are very evident.
The original report with further details on the market situation in the East can be found here
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