MEPS forecasts record highs for raw materials in 2008

摘要

UK consultants MEPS forecasts that, although US inventories are down at the distributors, these report that business is not robust although margins are holding. Supply-side tightness and ongoing escalating costs for raw materials, energy and freight are driving transaction prices up as producers announce a series of increases -30 US dollars/t in January to be followed by 40 US dollars/t for February shipments. Import volumes are massively reduced and the price of foreign steel is soaring. These conditions are likely to last for some months ahead. Canadian transaction numbers are advancing similarly.