Declining steel prices [MEPS]

MEPS Consultants today report that world steel product prices declined in July faster than anticipated - mainly as a result of decreases in EU and North American flat product prices. The consultancy forecasts reasonably stable pricing into early 2008, suggesting that price increases in the North American market are likely to be offset by reductions in the EU.

MEPS also consider that a significant pick up will take place later this year in the North American flat products sector after the current destocking phase. Prices in this region are unlikely to attract imports to slow the escalation in the medium term. According to MEPS, both flat and long product prices in the EU are forecast to retreat over the next six months from their dizzy heights in 2007.

For original report, visit http://www.meps.co.uk/steel%20price%20forecast%20composite7-07.htm

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