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Home > MEPS Steel News - 25.03.2013

BRIC STEEL PRICE MARKET ROUND UP FROM MEPS

MEPS BRIC average transaction prices declined this month for six of the eight carbon steel product forms.

Brazilian steelmakers remain focused on supplying finished steel products to their domestic customers. At present, exporting is less of a priority. The Chamber of Foreign Trade (Camex) has yet to disclose which of the “listed” steel products will attract import duties. The National Association of Vehicle Manufacturers (Anfavea) and other similar groups are against the higher import duty (25 percent) being levied on cold rolled and galvanised steel products.

Russian trading houses have queried whether the latest domestic price levels are supported by market and economic fundamentals. Underlying demand for finished steel products has once again fallen short of industry projections – particularly, from construction firms and pipe fabricators.

Distributor trade in India has been unsettled by pre-budget expectations and weak market fundamentals. Shipments to construction and infrastructure projects were weaker than anticipated. Steelmakers, without captive iron ore mining assets, continue to voice their concerns over the shortage of high quality iron ore.

The Chinese steel industry expects 2013 to be a challenging year. Profit margins have been eroded by the on-going overcapacity problem and the volatility of raw material prices. The Ministry of Environmental Protection is also expected to introduce stricter industrial emission standards next month, which may result in several steel plants closing down.

Source: MEPS - Developing Markets Steel Review 

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