International Steel Market Roundup-February 2004

摘要

The pace of change in the US has been rapid over recent week-s. Due to unprecedented increases in raw material costs, suppliers have implemented surcharges ranging from 15 dollars to 40 per dollars tonne on all steel shipments, effective throughout January. These are on top of higher basis prices. In addition to these spiralling prices, customers are now concerned about availability. There is a shortage of coke which is constraining production at some mills and they are already saying that first quarter orders will spill over to April at least. Spot buyers are particularly hard hit because their traditional method of shopping around is now working against them as the producers start to put their most loyal customers first. Offshore offers are still limited. High ocean freight rates and the low value of the dollar are discouraging importers. Demand from Japanese carmakers and construction machinery manufacturers remain good and export enquiries are holding up. Local inventories of strip products, at end November 2003, fell by 2.6 percent compared with the previous month. However, quayside warehouse stocks of imported flat products increased by 1.0 percent from October.