LATEST MARKET ROUNDUP FROM MEPS
There is a fair amount of concern in the US amongst service centres, OEM’s and end-users that supply is becoming very tight. The situation appears to be driven by supply-side controls rather than any significant uptick in real demand. Nevertheless, distributors are busy and buyers have accepted a transaction price increase of $US20 per tonne. Producers are talking of further hikes for June. So far, rising import volumes have failed to adversely impact the market.
As expected, transaction values are moving up in Canada, where market conditions are good. Further increases are anticipated. Supply is extremely limited because of mill production issues and this scenario is likely to continue into period three. Resale margins are holding steady.
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