Asian prices have not moved up as much as those in the EU but they are now closer to US values - with the gap between the two reducing by around $US85 per tonne since July last year. However, the price differential with the EU has increased by more than $US30 per tonne. This has caused a shift in Chinese exports away from the US and into Europe.

Asian transaction figures continue to lag those of the other two regions. Growing Chinese exports are keeping carbon values in check. This scenario is forecast to persist in the long term as Chinese capacity expands further. Prices in Asia have been strong since the third quarter of 2006. The MEPS Asian Average Composite All Products Carbon Steel Price has increased by around ...

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