Price volatility, overcapacity, credit restrictions and trade barriers among issues facing long steel industry, but positive signs from global economy
The 69th meeting of IREPAS (International Rebar Exporters and Producers Association) was held in Istanbul, Turkey on September 22-24, 2013. There were 120 producer representatives amongst the 407 registered delegates from 49 different countries. Kim Marti was named as Chairman of IREPAS, replacing Ugur Dalbeler. Ioannis Meimaroglu, Chairman of the Raw Materials Suppliers’ Committee, confirmed that a record high number of 42 representatives attended... Read More
Short Range Outlook: September 2013
Raw material costs to provide some support for long steel prices despite depressed conditions The excess supply situation in certain regions in the global long steel products market in July also continued to be observed in the month of August. That said, market sentiment has lately been better in the US and Europe, where some price increases have been achieved. The market dynamics have been improving slightly in Asia too. Although the weak yen encourages... Read More
Short Range Outlook: August 2013
US leads the way for demand in global long steel market The situation as regards excess supply in certain areas of the global long steel products market remained the same in July as compared to June, while there have been price rises due to availability restrictions amid some closures, like in the EU region, or also due to pressure on the raw materials side, like in Asia. In some markets, supply has been reduced to some extent, balancing with a certain... Read More
Short Range Outlook: July 2013
Supply-demand imbalance still prevails in long steel market Demand in the global long steel products market in June remained unchanged as compared to May. There has been no improvement in terms of the imbalance between supply and demand in the market, despite the best efforts of mills to adapt their production to demand levels and thus avoid the creation of further supply pressure. As expected and as mentioned in our press release last month, ferrous... Read More
Short Range Outlook: June 2013
Chink of light for long steel market as raw material prices approach bottom The supply and demand imbalance in the global long steel products market has worsened lately. Although real demand is not that bad globally, the continuous decline in prices of raw materials is causing a delay in purchase decisions, resulting in a decrease in apparent demand. In some markets, especially in Europe, this is putting pressure on prices. Demand seems to have dried... Read More
Short Range Outlook: May 2013
Overcapacity hinders price increases in global longs market Yet another month has passed in which demand in the global long steel products market has failed to show the long-awaited recovery. The volume of business has significantly declined in the overall global marketplace, even though volumes are either unchanged or have increased in some regions. Prices in the Far Eastern market are somewhat lower due to the increase in Chinese output and supply.... Read More
Short Range Outlook: April 2013
Global long steel market place hopes in output cuts and improving weather Demand in the global long steel products market has not indicated the long-awaited increase yet, and is still at very low levels due to the long and cold winter in the northern hemisphere, especially in the EU. Steel mills are still taking action to achieve a balance between supply and demand in the market. However, the supply levels have not really been of much help lately... Read More
Overcapacity and protectionism to remain key issues in 2013
Overcapacity and protectionism to remain key issues in 2013 The 68th meeting of IREPAS (International Rebar Exporters and Producers Association) was held in Doha on March 3-5, 2013. There were 76 producer representatives amongst the 210 registered delegates from 60 different countries. Yusuf Guven, chairman of the IREPAS Raw Material Suppliers Committee, said that the iron ore inventory strategies implemented in China resulted in increased iron ore... Read More
Short Range Outlook: February 2013
Competition heats up and margins suffer in global long steel market Trade restrictions have shut down a few significant markets for reinforcing bar exports recently, and so some exporting countries have been obliged to divert significant quantities of exports to other destinations, creating severe supply pressure on prices, and more importantly making profit margins practically non-existent. Demand for long steel products has not been picking up in... Read More
Short Range Outlook: January 2013
New Year brings some positive signs for longs market, at least for short term Business slowed down due to the holiday period in many long steel markets worldwide, but the balance of supply and demand has been maintained as many mills opted for long holiday breaks. The first week of the year showed some signs that 2013 may start with an upward trend in prices. Also, recent data indicate that major economies in the world may perform better than expected... Read More