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Demand sentiment drops sharply - The Steel Index survey

Demand sentiment drops sharply - The Steel Index survey
The latest market survey results from The Steel Index show that fewer US, European and Asian companies are expecting better demand in the next three months. Globally, sentiment on prices remains unchanged since last week. Inventories continued falling, although fewer companies reported lower stocks than the previous week.

Expectations of higher demand fell in all regions, with only 29% of US companies expecting better off-take, compared to last week’s 48%. Some 19% of US companies expect lower off-take during the next three months while 52% foresee steady demand. 16% of European companies expect higher demand, down from 26%, though a significantly higher 35% foresee lower off-take, with 49% expecting steady demand. Globally, 21% of respondents expect higher demand, down from 32%, but 28% anticipate lower off-take, up from 18% last week.

16% of European companies expect higher prices during the next three months, down from 22%, while 39% still anticipate lower prices. 29% of US companies expect higher prices, though 28% of respondents expect lower prices, up from 24%. An almost unchanged 22% of companies in North America, Europe and Asia expect higher prices in the next three months; 34% expect lower prices and 44% foresee stable prices.

Fewer companies reported lower stock levels than last week, but it was only in the US that more - 25% - had higher inventories. 35% of US companies reported lower stocks, down from 50%, while 40% of companies had stable inventories compared with the previous week, down from 45%. 37% of respondents globally reported lower stocks and 15% noted higher inventories, compared to 13% last week, with 48% showing unchanged stocks. In Europe 39% of respondents had lower inventory, while 53% of companies reported stable stocks, and just 8% had higher inventory.

Feb 8, 2009 12:27
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