The latest market survey results from The Steel Index show that more US companies are expecting better demand and higher prices in the next three months. However, European sentiment is changing more slowly, though there are fewer companies expecting lower prices and demand.
33% of US companies expect higher prices in the next three months (up from 11% last week), with just 28% of respondents expecting lower prices (down sharply from 47%). 42% of European companies expect lower prices during the next three months (58%), but an almost unchanged 17% anticipate higher prices. On average 22% of companies across North America, Europe and Asia expect higher prices in the next three months (up from 15%). 38% expect lower prices (sharply down from 53%), and 40% foresee stable prices.
There are expectations of higher or more stable demand in all regions since last week. Half of US companies foresee higher demand (last week 26%). An almost unchanged 33% of US companies expect lower off-take during the next three months while 17% foresee steady demand (42% last week). Globally, 37% of respondents expect lower demand but 24% anticipate higher off-take. 33% of European companies surveyed expect lower demand (down from 54%), and 50% foresee stable off-take (up from 32%), with just 17% expecting higher demand.
Stock levels moved downwards again in US, and continued to be lower or stable in Europe and globally.