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Home > MEPS Steel News - 30.05.2017

Buying Sentiment Deteriorates in Emerging Steel Markets

Challenging business conditions persist in the Russian Federation, according to MEPS. Domestic steelmakers are pinning their hopes on forecasts of better sales in the coming months. The flat product market continues to stagnate. Construction-related trades are also subdued, since building work is slow to improve, despite the onset of more hospitable weather conditions.

Procurement activity in India, this month, is less vigorous than in April. Business confidence weakened in recent weeks. Stockists are in ‘wait and see’ mode due to price fluctuations and uncertainties as the monsoon season approaches. Deliveries to downstream industries underperform. Meanwhile, steelmakers continue to press the government for additional measures to restrict import penetration.

Activity remained subdued in Ukraine, partly due to the Easter break and two public holiday weekends at the beginning of May. Resale values are poor due to severe competition in the distribution industry. Shipments to the construction industry are still slow with no positive developments on the horizon.

In the United Arab Emirates, many steel distributors and end-users are adopting a wait-and-see approach, amid the recent market volatility and impending holy month of Ramadan. Domestic rolling mills continue to attempt to recapture market share from overseas suppliers.

The South African market situation is weak. Stockists are less keen to purchase from overseas suppliers, fearing that the authorities will implement retrospective trade action.

Prices are unchanged in the Mexican market, with buyers anticipating stable, or slightly lower, values in the third trimester. Service centres are busy supplying the auto industry and sales to construction are also satisfactory. However, distributors’ margins remain low because of overcapacity in that sector. Developments across the border in the United States continue to be watched carefully.


Source: MEPS - Developing Markets Steel Review - May 2017 Edition

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