European flat products selling figures are expected to continue rising moderately, in the final trimester of the year. Local mills have hiked their offer prices because order books are reportedly full for the remainder of 2016. Furthermore, surging coking coal costs are exerting upward pressure on steel selling values. Moreover, supply from third country sources is limited, partially due to the implementation of antidumping duties.
MEPS forecasts relatively stable strip mill product prices in the early months of 2017. However, a negative trend is envisaged, by the beginning of the second quarter. Availability from domestic mills is likely to increase and imports should become more prevalent. Furthermore, raw material expenditure is expected to reduce in this period.