BRIC STEEL PRICE MARKET ROUND UP FROM
The MEPS BRIC average transaction price declined in May
for five of the eight carbon steel product forms researched.
Brazilian steelmakers remain optimistic over the general outlook for domestic
steel consumption in the remainder of 2013. However, their customers have begun
to press for lower prices, in view of the downward movement being witnessed in
other global steel markets. Several distributors are deliberating whether to
revert to importing again.
Russian trading houses remain cautious about the strength of underlying
consumption in the June/August period. The majority do not expect to witness a
significant price recovery. Market fundamentals remain weaker than expected.
Local steelmakers are under pressure to downgrade their planned production
Market sentiment in India has been undermined by negative price expectations and
weak underlying demand growth. Internal steel producers have resisted offering
discounts and more favourable payment terms, fearing such measures would be
counterproductive and only fuel further price instability.
In China, business confidence has weakened in recent weeks. Low trading volumes
and rising inventory levels have reiterated the necessity for domestic
steelmakers to scale back production.
Source: MEPS -
Also see - BRIC
Steel Prices Online
Free Sample copy
of Developing Markets' Steel Review