PROCUREMENT ACTIVITY REMAINS TEPID
IN EMERGING STEEL MARKETS
According to MEPS, the
business environment remains challenging in the Brazilian steel market.
End-users are exhibiting little urgency to purchase material, even with
In April, Russian steelmakers reined in their pricing ambitions. Underlying
consumption has fallen short of industry projections, amid a slow start to the
construction season. Distributors maintained manageable inventory levels, in
anticipation of lower settlement prices next month.
Price volatility adversely affected buying activity in India. Local traders
questioned the sustainability of the current transaction values, specifying that
price support remains limited.
The general outlook for the Ukrainian steel industry is unchanged. Domestic
steelmakers had limited success in pursuing price growth. Sales volumes of
construction steel are forecast to pick up as seasonal trade gains strength.
The business climate remained unsettled in Turkey, this month. Trading companies
acted with extreme caution, citing that the uncertainty surrounding the April
constitutional reform and the close proximity of Ramadan (commencing May 26)
would negatively affect sales.
Buying activity declined in the United Arab Emirates. Local stockists are
reluctant to purchase material in, what they deem as, precarious trading
conditions. Shipments to the construction sector and pipe fabricators failed to
Source: MEPS -
Steel Review - April 2017 Edition
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