BRIC STEEL PRICES CONTINUE TO FALL
Steel prices in BRIC
countries have slipped by an average of around 4 percent, in December.
In the recent issue of the Developing Markets’ Steel Review, MEPS reported that
market activity across the developing world has softened across flat and long
products areas. Amid a weak demand outlook, buyers have put further downward
pressure on domestic selling prices as sales slow down, approaching year-end.
In Brazil, domestic producers have called for higher tariffs for imported
material to protect market share. Meanwhile, reduced investment activity and
sluggish domestic sales continued to dominate the Russian steel scene.
Chinese steel prices keep tumbling as falling raw material costs have enabled
customers to secure reductions in their local market.
Low-priced imported material has put further downward pressure on South African
domestic resale prices. Meanwhile, Mexican stockists have successfully secured
lower transaction values following similar price reductions in the US.
Source: MEPS -
Steel Review - December Edition
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