DEVELOPING MARKETSí STEEL MARKET
ROUND-UP FROM MEPS
In India, the Supreme Court has lifted the embargo on iron
ore mining in Goa. Mining companies have been authorised to excavate a total of
20 million tonnes per annum. Meanwhile, flat product steel producers are under
pressure to offer additional discounts and more favourable payment terms.
Challenging trading conditions persist in Ukraine. Procurement activity by small
and medium sized construction companies has stagnated across the country.
Meanwhile, the European Union has removed import tariffs on several categories
of Ukrainian industrial goods, including finished steel products.
Buying sentiment has improved in the United Arab Emirates. Local stockists are
cautiously optimistic over the growth prospects for domestic steel consumption
in the May-June period. It has become too risky for buyers to conclude any deals
at this stage because of volatile import quotations.
Stable trading conditions are forecast in the Mexican market during the second
quarter of 2014. Underlying demand is expected to be driven by shipments to the
automotive and construction sectors.
Source: MEPS -
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