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LONDON (Scrap Monster): MEPS International Ltd predicts an upturn in German wire rod prices in the first and second quarters of 2012. Selling figures have increased by approximately 3 percent since December and it is anticipated that suppliers will lift them further in the first trimester.

Medium sections transaction values are expected to increase by around €60 per tonne over the next six months. A rise of €20 has been secured in Germany in the last month. Consumption is better than anticipated because construction site work has been able to continue longer into the winter than usual. Moreover, government spending on infrastructure has been stepped up.

Rebar selling figures have firmed by over 7 percent in January, month on month. Unseasonably high temperatures have enabled building activity to continue without a break. Consequently, fabricators need to replenish inventories that they had allowed to decrease. Producers are now pushing for further advances in market selling values.

MEPS has noted some upward price pressure for merchant bar. Although the full €30 per tonne rise, planned by the producers, has not been fully implemented, values have risen by €10 since MEPS December figures were published. The overall supply/demand situation is improving due to extensive production cuts over the holiday period.

Reduced output levels, combined with rising input costs should assist German producers to successfully implement at least part of their proposed increases in the first half of the year. Re-stocking by customers throughout the supply chain is also likely to help boost mill demand and lift transaction values in the short term.