ASIAN FLAT PRODUCT PRICES FALL IN AUGUST BUT WESTERN VALUES HOLD UP

摘要

The $US4O pershortton hike, announced by the majority of US mills at the start of the summer, has been, at least partially, implemented. However, there is nowrenewed downward pressure on transaction values. In fact, we have noted some weaknessdevelop during the course of our September research programme. Mill delivery lead times are very shortdue to sloworder entry. The threat of industrial action at ArcelorMittal has been averted. Global iron ore prices havecollapsed and the sharp run up in scrap costs has recently reversed. The producers are trying to hold on to current prices as long as possible but we expect to see some further declines quite soon.