The steel market activity in Germany was quiet in February as customers had no urgent need to purchase, said MEPS International in a snippet.
According to MEPS, basis hot rolled coil figures were unchanged in February, compared with the previous month. Steelmakers were unable to implement their announced rise. The weakening euro was beneficial for the pipemakers, who were able to obtain overseas orders. Having conceded discounts in January, plate producers held on to those figures during negotiations in the following month.
Demand for cold rolled coil failed to recover, with the exception of auto sheet. Distributors struggled to make acceptable profits. Meanwhile sales of coated coil to car manufacturers continued to perform very well. However, demand from the construction sector was stagnant.
Drawing quality wire rod selling figures were unchanged month-on-month. Recoil values have succumbed to further negative pressure as scrap prices have not firmed.
Beam producers were able to lift effective values in February, despite strong competition for the little business available. The construction outlook is better for later in the year.
Domestic rebar producers tried to boost prices, based on a lack of import availability. However, resistance from customers was high because they were unable to pass on any increases. Negotiations were fierce.