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#5' 2003 print version
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PRICES FOR ROLLED STEEL GO UPWARD




A
ccording to the data of the Center for Macroeconomic Research BDO Unicon, as compared with the first half of 2002 the first half of 2003 was marked by the growth of prices for products of ferrous metallurgy both on the world and domestic markets.
On average, in the first half of 2003 world market prices for products of ferrous metallurgy exceeded prices of the first half of 2002. The average world market price for hot-rolled steel in coils was higher by 29 % than in the first half of 2002 and by 37.9 % for cold-rolled steel in coils while prices for ferrosilicon, ferrous metal rejects and scrap exceeded those in the first half of last year by 56.1 % and 61.4 % accordingly..
By results of the first six months of 2003 (in June 2003 as compared with December 2002) the growth of world market prices for sectional steel amounted to 10.5 %, for ferrosilicon – 17.5 % and 21.2 % for ferrochromium. At the same time world market prices for hot-rolled steel in the given period went down 12.3 %, prices for cold-rolled steel decreased 1.3 % and prices for ferrous metal rejects and scrap dropped 0.9 %.
The growth of world market prices contributed to the growth of contract prices for exported ferrous metals and ferrous metal products. As compared with the first six months of 2002 contract prices in the first half of 2003 for exported hot-rolled flat section went up by 47 %, for cold-rolled flat section – by 62.8 %, for semi-finished carbon steel products – by 31.6 %, for ferrous metal rejects and scrap – by 39.9 %, for ferrous metal pipes with a diameter over 406 mm – by 67.3 %.
During the first half of 2003 domestic prices set by makers of ferrous metallurgy products grew up as well.
In the first six months of 2003 producers’ prices for sectional rolled stock increased 10.9 %, they went up by 19.7 % for flat rolled stock and by 20.9 % for plate rolled stock. In the given period producers’ prices for sheet cold-rolled steel rose by 20.9 % and by 18.3 % for sheet hot-rolled steel.
Also during this period producers’ prices for steel pipes were up by 30.7 %, including prices for large diameter welded pipes – by 13.1 %, for pipe casings – by 28.8 % and by 30 % for oil pipeline seamless pipes. 

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