Steel Bulletin May 2015
May 18, 2015
PRICES
Please note we have updated our price graph, which is now based on our average out sale price on all steel products. Our last steel bulletin was in January and the situation has continued to decline due to the weakness of the world market. The European economy is not growing and the euro is still weak against sterling, which leads to downward price pressures on steel imports into the UK from Europe. Further afield scrap and other commodity prices have continued to fall but a general collapse in price has been avoided as the dollar strengthened against the pound and other currencies. What of the next 3 months? We think we are at or near the bottom of the cycle with signs that a price recovery may be just around the corner, for up to date information please give us a call on +44 (0)1845 528200.
SUPPLY
The long term future supply of heavy sections, (beams, columns, parallel flange channels and large angles) is still uncertain but this is not affecting the availability of rollings. Mills are generally busy and we are looking a lot further forward to catch mill rollings. Tomrods continues to hold healthy stock levels of all products to make sure we maintain our exceptional levels of service to all our customers.
TOMRODS LTD
Despite falling prices we have stayed in profit through the first quarter. The new cut and drill line has enabled us to add more tonnage to our monthly sales and we have had an excellent response from all our customers who are delighted with the quality of the drilling, the clear labelling and the prompt deliveries on time.
We are once again competing in the 50th Knaresborough Bed Race (Saturday 13th June) under the name ‘Tomrods Men of Steel’ and we hope that you will be good enough to make a donation as we are collecting for Open Arms Malawi, which helps over 1,000,000 orphans. (More details to follow.)
Thank you for reading this and if you have any comments about Tomrods Ltd or our website please email the undersigned at johnt@tomrods.co.uk.
John Thompson
MANAGING DIRECTOR