Markets are more upbeat than they have been for some time and direct suppliers to UK steelworks are already indicating higher prices for March. At this stage, no one knows how far the steelworks will go, but one of the county’s biggest suppliers has already increased its price for Plate and Girder by £20 per tonne, whilst Mixed 1 and 2 is up by around £10 per tonne. All told, with signs of renewed interest from China, trade in March may prove to be a significant improvement over February.
As February draws to a close there are signs of improved trading conditions in March. Mills in India, which were offering £205 per tonne for boxes of HMS No.1 six weeks ago, are now offering £230 per tonne and China and Turkey are showing interest in several grades. As a result, some exporters have already increased dockside prices and ongoing shortages of stock and raw materials are the only features likely to spoil a good month.