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Home > MEPS Steel News - 04.06.2013

BRIC STEEL PRICE MARKET ROUND UP FROM MEPS

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 targets.

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 - Developing Markets Steel Review 

Also see - BRIC Steel Prices Online

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