Tuesday, November 25, 2008

Meps November - reporting continuing price falls

 Meps are reporting falling steel prices around the world, with the US operating at 65% percent capacity and continuing high stock levels at Service centres.

In Canada producers are extending the annual winter shutdowns.

Prices continue to fall in China as demand in downstream markets collapse.

Demand in Japan and Korea continues to fall and prices deteriorate.

Eastern sales continue to weaken with high inventories contributing to falling prices. Western Europe has been badly hit with major producers announcing extended closures and plant shut downs in view of collapsing order books. Higher prices in Europe seem to hard to justify, with the mills refusing to reduce prices on forward orders.


Read the full report at Meps.


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