United Kingdom

摘要

Sterling, like the US dollar, has continued to lose ground to the euro, which has reduced the premium of UK steel prices over prices in the euro-zone. The UK is, as yet, the only country where HR coil prices have broken through the 300 US dollars/t level - transactions are currently in the 200 pounds/t range - but prices for downstream products are now lower than they are in the coil-deficit countries of Italy and Spain. The CR coil basis price is up to 230 pounds/t (350 dollars/t). Most HDG transactions in the spot market are actually at a small discount to this - around 5 pounds/t (8 dollars/t). This is a reflexion of the dominance of construction business in the short term market, especially in the booming construction conditions in the UK. Construction demand has enabled mills to enforce second quarter price increases for sections and beams. Prices of common categories are close (either side) to 240 pounds/t (365 dollars/t). This is one market where suppliers can collect substantially higher prices in the UK than on the Continent. High internal demand and improved prospects in export markets (especially in the USA) have emboldened Corus to try for further price rises of 3-4 percent effective from the beginning of September.