Traders at IREPAS: Positive outlook for long steel prices in 2013

In the last session of the SteelOrbis Fall 2012 Conference & 67th IREPAS Meeting held in Munich on September 30-October 2, suppliers and producers of long steel products and billet, as well as traders and raw material suppliers, shared the conclusions reached at their special committee meetings regarding the current situation in the markets as well as their expectations for the near future with the general participants at the event.
 
Michael Setterdahl from Nucor, chairman of the traders' committee, stated that traders at the committee meeting discussed the differences between the long steel and flat steel product segments, concluding that, as long steel production is low globally, the outlook for prices of long products in 2013 is positive. The traders also discussed the issue of availability of scrap and how their business is being affected by this issue. The traders committee also remarked that the Chinese government has been affecting prices, not the market. The chairman wrapped up his words by saying, "Everything depends on demand and supply, as always."