Scrap Monster

EDITION
Lead poisoning rampant in India battery recycling
Palladium to outpeform Gold, Silver, Platinium in medium term: BNP Paribas
By   05 Apr 2012  Last updated at  07:28:57 GMT
Cold rolled coil transaction values declined by over 6 percent in March. This was attributed to subdued demand combined with the threat of cheaper imports on the horizon. Buyers were cautious about rebuilding stocks at a time when scrap costs were declining.

LONDON (Scrap Monster): US flat product prices recorded downward movements in March according to the latest report by MEPS (International) Ltd. Mills failed to maintain selling figures for hot rolled coil at the February level.

Transaction values dropped approximately 7 percent and have been driven down by cheaper scrap values and the anticipated arrival of cheap imports. There is also negative pressure from the construction sector as well as from the distributors. However, general engineering, together with barge making, mining machinery and harvesting equipment, is providing plenty of business for the steelmakers.

The energy, transport, agriculture and earthmoving equipment sectors in the US have good order books, which are expected to become even stronger as the year progresses. This will benefit plate consumption. However, demand from the construction industry remains muted. The prospect of the arrival of cheap offshore plate from Poland and Russia in April is creating downward price pressure.

Cold rolled coil transaction values declined by over 6 percent in March. This was attributed to subdued demand combined with the threat of cheaper imports on the horizon. Buyers were cautious about rebuilding stocks at a time when scrap costs were declining.

US car manufacturers’ demand for coated steel will increase at a time when the outlook for the construction industry becomes more optimistic. Consequently, domestic supply in the general market is likely to become restricted, especially as a number of mill outages are planned for that period. For the moment, coated coil prices have contracted, in line with the cold rolled substrate.

Despite the decrease in selling figures for March, US mills have announced increases for April in an attempt to prevent further price erosion. These are likely to be accepted by the market and result in a firming of transaction values in the short term. However, oversupply could limit the size of any potential increases.

 

Also Read:
July 7th 2015
Ministry of Finance will provide $161 million over teh next three years to Inner Mongolia for development of rare earth…
July 7th 2015
A recent research report predicts that Chinese rare earth permanent magnet demand is likely to post strong growth.
July 6th 2015
WorkSafe has begun investigation into the huge fire that engulfed piles of scrap cars at Manhari Metals yard in south-west…
July 6th 2015
The Japanese Tokyo Steel has cut its ferrous scrap purchasing prices effective July 4th. This is the second time that…
C
Waste recycling
Atlanta
A
Waste recycling
San Francisco
C
Automotive Recycling
Perth
H
Automotive Recycling
Brooklyn
L
Multi-Material Recycling
Stanwood,