August 2012 | Steel Tracker
Poor economic data further dampens sentiment: International Flat Product Market Analysis
USA and European central banks fail to spark confidence in the markets’.
MBRs Flat Product Price Index has continued to fall for another week as global flat product prices fail to pick up. The largest gain week-on-week was seen in the HRC Russian domestic market as prices rose 1.8% to $547/tonne. The biggest fall was -3.9% realised in the southern regions of Europe. Within the HDG market, material is now being offered at 555/tonne ($682).
It is no secret that now more than ever, producers are having their margins squeezed as price falls in the major steel markets continue to turn downward.
In its Q2 2012 release, the MBR steel cost model has identified producers in the CIS region as maintaining their cost advantage over other steelmaking regions due to their access to captive resources, which are transferred to mills almost at extraction cost, thus at significant discount to raw materials market price and unburdened...
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