British
steel industry consulting and research firm MEPS Ltd. issued its latest steel
price analysis in late February predicting double-digit hikes in global steel
prices during 2008.
“U.S. mills appear to be busy with delivery lead times
stretching out to early April. Customers need to replenish stocks and there is
a lack of imported steel at present, although this could change later in the
year,” according to MEPS. “Canadian mills have solid forward order books.
Transaction prices continue to advance at a rapid rate as delivery lead times
move out to April,” the assessment continued.