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News Release from: MEPS (International)
Edited by the Manufacturingtalk Editorial
Team on 31 May 2007
Asian hot rolled carbon steel prices
rise
Asian hot rolled carbon steel prices rose again, during May, 2007, and, short term, there may be further rises as Chinese export prices, with an export levy, move upwards.
MEPS has reported that its Asian average hot rolled carbon steel coil price moved up again in May, 2007 This followed its expectations last month
This article was originally published on Manufacturingtalk on 9 Oct 2006 at 8.00am (UK)
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In the short term MEPS still see a possibility for further price strengthening as Chinese export prices move higher, due to the new export levy.
However, figures are expected to reduce from the end of the third quarter onwards as oversupply sets in.
New capacity, due on stream in China, is expected to put negative pressure on local prices.
Export volumes are not predicted to fall significantly below 2006 levels, despite the introduction of new tax measures.
Non Chinese values may, in fact, benefit from a slowdown in the growth of import volumes in the short term.
Longer term, excess supply could lead to a steady decline in the average Asian value.
The MEPS Asian Average Hot Rolled Plate figure also increased this month due to tight supply and higher input costs.
In the medium term, we expect values to remain firm as order books stay strong and import prices rise across the region from the Chinese tax levy.
Prices are predicted to slip in the final quarter of 2007 but should not face the same downward pressure affecting Hot Rolled Coil.
Strong overseas demand is likely to help keep any price declines relatively modest.
* Source - MEPS International Steel Review.
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