10 May : Russian steel price movement in April from Rusmet

It is reported that during 4 weeks from April 4th till May 2nd 2010, general weekly average local market price index for finished steel products has risen by 4.9%. Weekly average price index for long products has risen by 6.1%. Growth structure by products is below 1. Reinforced bar - 6.1% 2. Beam and Channel - 5.0% 3. Angle - 5.5% 4. Round bar/rod - 9.3% Weekly average price index for flat products has risen by 3.9%. Growth structure by products is below: 1. Thin HRC/HRS - 9.1% 2. Hot rolled plate - 5.4% 3. Cold rolled coil/sheet - 2.6% 5. Galvanized coil/sheet - 0% Monthly average sales prices grew 3.9% in comparison to March level. 1. Average sales prices of long products grew by 4.2%. 2. Price for round and square bars grew by 7% 3. Angle - by 3.9% 4. Beam and channel - by 1.1% 5. Rebar - 5%. 6. Sales price of hot rolled sheet rose averagely by 5.5% 7. Cold rolled sheet increased by 3.9% 7. Galvanized is up by 1.9%. Price growth rate for steel products in Russia as well as in the world were the highest in April since the rock in 2008. This growth was stimulated by price increase for raw materials which has already took place and is expected to continue in the nearest future, as well as some improvement at the ultimate consumers in particular, construction and automotive sector, and finally, traders’ activity who are willing to be in time to buy in order to be in time to sell higher then. Correlation of these factors and future expectation for price dynamics is different in various regions of Russia. The most stable situation currently seems to be in South-East Asia. In Europe recover of economy is the slowest and forecasts are less optimistic. A lot of analysts are expecting stagnation or even decrease of prices since the second half of May already. Russian steel industry has not reached the quantities of 2008 and is not likely to reach this year but nevertheless it feels not bad mostly due to the exports. While domestic market is uncertain, local steel prices are likely more to depend from the situation in the world markets, especially Asian, rather than from local demand. Now the prices are growing firmly and our computer forecast assumes that if the trends of the last weeks do not change, May price for rebar in comparison to April to grow by 3% to 5% while other longs to go up by 3% to 4%, hot and cold rolled sheet to grow by 4% to 6%. ( from rusmet)

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Article: 10 May : Russian steel price movement in April from Rusmet
Keywords: Home - Titanium - Ferro Titanium
Channel: Metal - News
Posted: 2010-5-10 8:59:07 by Metalnewsnet
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10 May : Russian steel price movement in April from Rusmet

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