Steel Bulletin News May 2014
May 15, 2014
PRICES
Prices during the first 4 months of the year have eased downwards despite strong demand from the UK economy. The lack of growth in Europe and the slowing down of Chinese steel output has reduced world prices. On an international front the success of the UK economy has strengthened the pound against the dollar and Euro making imports that bit cheaper as well as making the UK an attractive market for importers. As far as Q2 2014 is concerned the trend continues and prices will remain under pressure although ArcelorMittal have recently increased heavy section prices by £20/t. If you need more up to date information please contact our sales department on 01845 528200.
SUPPLY
Supply is in balance but mill capacities are currently stripping demand.
TOMRODS LTD
The year has started well with demand being good but, with prices under pressure, the returns are disappointing. However we continue to invest in the future and besides investing in new double glazing for the offices, the grass is now definitely greener, we have invested in a new outside crane and 10t side-loader. Further plans are in hand to extend the outside gantry to create more warehousing space and we are still on line to upgrade our computer systems. Our CE marking registration remains on course and all the required documentation will be in place in good time for the 1st of July deadline.
On a social front we had another game of football on the “front lawn” and I am delighted to report that team Thompson managed to beat team McDougall 4-2, gaining revenge for the previous defeat last year. Keith McKee refereed totally impartially despite being offered numerous incentives to award penalties. Excellent hot dogs were barbecued by Mark Cowgill and everyone, despite their ages, managed to escape without injuries.
As far as the future is concerned we will continue to offer all our customers the excellent service they have now come to expect and to continue investing in our future.
Thank you for reading this and if you have any comments about Tomrods Ltd or our website please e-mail the undersigned at johnt@tomrods.co.uk.
John Thompson
Managing Director