February 2012 | Steel Tracker
Despite global stagnation, ME construction remains buoyant: International Long Product Market Analysis
The recent spike in US import applications signals the weaker fundamentals in the traditional markets closer to the producers.
Billet re-rollers and rebar exporters, particularly in Russia and Ukraine, may have a hard time shifting material in the European market. Facing poor demand from end users and even still, those wanting material facing tightening credit availability has limited orders in the region.
Similarly the US market seems to be taking a turn. January saw import license applications increase over 50% from the previous month, with Turkey and Spain leading the way with applications for rebar and beams respectively.
The recent spike in applications signals the weaker fundamentals in the traditional markets closer to the producers. Despite the worrying undertones of the consistent weakness in the long product market over the past few months, exporters and producers, particularly from Turkey, have positioned themselves well to supply material to the stable construction markets...
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