BRIC STEEL PRICES CONTINUE TO SLIDE,
BRIC steel prices continue
to be under pressure because of weak demand, global oversupply and the recent
introduction of EU trade protection measures.
In February’s issue of the Developing Markets’ Steel Review, MEPS reported that
the BRIC average transaction price, slipped, this month, across flat and long
Brazilian long product prices reduced slightly as market activity remained
muted. Following the introduction of the minimum import price framework, in
India, buyers are hesitant to place orders.
Russian cold-rolled sales to the European Union are likely to contract as the
authorities set preliminary antidumping duties. However, local producers largely
secured higher transaction prices, in February. Steel export orders rose on the
back of the weak rouble.
Furthermore, domestic transaction prices for Chinese flat and long products are
expected to rise in late-February as activity ramps up, especially in the
construction sector, following the holidays.
Source: MEPS -
Steel Review - February Edition
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