UK: Domestic Flat Prices remain stable

The UK flat steel market has barely changed over the past two weeks, and expresses stable interest in purchases and demand improvement from consuming industries, including automobile sector.

In this situation, domestic producers Tata Steel Europe officially maintain prices so far.  Tata Steel Europe has offered HR coil at USD 694/MT and CR coil at USD 774/MT to local buyers for October. All prices are excluded 20% VAT. However, both products are apparently done USD 24/MT below official prices. 

Stockists' prices for long steel have not changed over the past two weeks. HR and CR products are still available at USD 670/MT delivered and USD 750/MT delivered respectively. Plate offers from stockists have remained at USD 718-734/MT delivered, like half a month ago. Demand for import products is strengthening on favorable currency exchange rate. October HR coils from Russia with November shipment are quoted at USD 638-654/MT delivered. 

Market players expect an upturn in domestic demand. According to the Society of Motor Manufacturers and Traders (SMMT), production rates are forecast to continue growing in September leading to higher flats supplies. Another price increase is also possible.