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EU Steel Prices Unlike to Move Up in 2006, MEPS Says
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. (EUNN) The European Union, pressured by foreign trade partners, has agreed to cut sugar subsidies which will lower the EU's guaranteed sugar price 36 percent over the next four years. The European Union's agricultural ministers agreed to the cuts after three days of negotiations. The move by the European Commission reduced objections by elevenEU member countriesto three, leaving Greece, Latvia and Poland still objecting to the compromise.
Currency Day Trading (AXcess News) Reno, NV - Prices for flat and long products in Europe both saw a general decline during the course of 2005. But the fall was far smaller than it could have been, given the huge stock overhang and this is giving rise to hopes for more stability of pricing in 2006.
Andorra is a member of the EU Customs Union and is treated as an EU member for trade in manufactured goods (no tariffs) EU member for agricultural products.
Financial Software Trading The MEPS weighted average transaction price for flat products fell by 20% between January and December 2005. Mills cut their production, and prices dropped by less than they did in previous down-swings of the cycle. For long products, the MEPS average transaction price declined by a smaller margin- more than 9% over the year as a whole. From January's 447 per tonne, the average fell to 352 per tonne in August- a substantial drop of 21%.
. (EUNN) The European Union has levied more trade sanctions on the United States in retaliation for its controversial antidumping measures. The move added another $9.1 million in trade sanctions, bringing the total amount of EU penalties against the US to $36.9 million. The EU was able to levy the trade sanctions against the US with the backing of the World Trade Organization which ruled in 2002 that the Byrd Amendment, the United States government's policy to let American companies collect revenues from successful antidumping lawsuits against foreign companies, was illegal.
Online Stock Trading Company In January 2006, prices for both flat and long products stand at lower levels than they did a year ago, but are nevertheless very much higher than they were in January 2004, before the remarkable upsurge that took place later that year.
In early 2006, Poland reached agreement with its EU partners that will permit it to benefit from EU funds totaling nearly $ 13.
Forex Day Trading The outlook for flat and long product prices in Europe in 2006 is that, on average, they are likely to be lower than in 2005. It is difficult to envisage that Europe will escape the knock-on effects of global over-supply. The continent is very likely to see mounting pressure from import competition as the year progresses.
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Financial In Market Flat product prices look most vulnerable to import pressure. The stock imbalance that loomed over the market for much of last year may have largely dissipated, but the market is still not ready to accept higher prices. Those mills that attempted to push through price rises of 20-30 per tonne in January have had no success so far- leaving the MEPS average transaction price this month unchanged from December.
Stock Trading System With growing evidence of over-supply globally- especially in Asia- an increase in imports will pose a threat to EU markets. Last year when the mills cut their production, it gradually became clear they were not simply leaving a gap for imports to fill. This year, things might be different. Any void might well be plugged by the larger volumes of flat products now available internationally. The European mills might not reap the benefits of production cuts in the form of higher prices.
Day Trading Stock Tip This is not to say that prices will fall through the floor. But it is difficult to see where any strong upward move will come from. There are signs of some improvement in industrial activity, notably in France and Germany. This may generate an increase in steel consumption. But any increased buying might equally go to imports.
Financial Forex Forex Software In long products- with certain exceptions- imports are less of a threat to European mills. Fewer long-distance imports take place, although there are nearer sources of supply such as Turkey that could test European markets. Wire rod is one of the exceptions, and here the European mills are already making noises about anti-dumping action in an effort to scare off imports that they view as disruptive. They will be keeping their attention closely focused on import licensing and arrivals as 2006 proceeds.
Stock Market Trading Source: MEPS - European Steel Review
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