Local mills keep Turkish HRC prices stable

10 February 2011

Turkish domestic hot rolled coil prices remain stable, but buyers are apprehensive about the direction of the market, sources told MB.

Bookings of hot rolled coil from were made at $820-850 per tonne exw, the same level as bookings made last week.

“The range has stayed the same. There hasn’t been much change in the past week,” a market participant told MB.

“There is insecurity in the market. Buyers are scared,” a trader told MB, adding that buyers are apprehensive because they don’t know what will happen to the prices next.

http://hectorhec.jimdo.com

Price History of ferreous scarp

index €/ton CFR Turkey
Price Date Low Price
07 February 2011 471.32
04 February 2011 476.32
03 February 2011 493.54

EU27 apparent steel demand will reach 145m tonnes in 2011, Eurometal predicts

EU27 apparent finished steel consumption will continue to rise in 2011, reaching 145 million tonnes as mechanical engineering and automotive consumers buy more, the stockholders’ association Eurometal said.

This will still be far short of the rate recorded in 2007, when consumption hit a decade high of 184 million tonnes, although more than the estimated 139 million tonnes for 2010, the organisation said.

In western Europe, the growth will be led by Germany, with most other nations recording single-digit growth rates, except for Spain, where Eurometal believes consumption will shrink.

Demand from mechanical engineering will grow the most, rising by 7.3%, while demand from automotive sectors will increase by 5.7%.

Despite this, European steel demand will stabilise until 2015, when it will reach 177 million tonnes, according to Eurometal’s projections.

Info from metalbulletin
http://hectorhec.jimdo.com