BRIC STEEL PRICE MARKET ROUND UP FROM
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
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 -
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