NO UPTURN YET FOR STEEL PRICES IN THE DEVELOPING MARKETS’

The Turkish long product producers have increased their local offers this month. Buyers believe this move is not warranted. It has not been facilitated by solid orders. The flat product segment is still experiencing challenging trading conditions. Not much has changed in the UAE. Material imported last summer remains quayside. The present rate of utilization stays low. Values are now expected to be flat for some time.

The CIS steel markets are still frail. Most of the principal steel makers have finalized contracts for their next month’s production volumes. Low demand has forced some steel mills to lower their offers again.

Transaction values have fallen across the board in South Africa. Government projects continue to prop up the steel industry. The business environment in the flat products segment has not improved.

Market sentiment in the Mexican steel market is stronger than last month. Nonetheless, end-user requirements are still low and price expectations are downbeat. The Brazilian transaction values have been under pressure this month. Requirements from the industrial sectors have shown little improvement.

The Indian steel industry has had contrasting fortunes in April. Demand for long products was strong in the first half of the month but has now tailed off. Flat product sales volumes continue to be low but selling values have shown a degree of stability.

Source: MEPS - Developing Markets Steel Review - click here for a free sample copy

Display MEPS steel news & prices on your website - click here