PRICE SENTIMENT REMAINS UNSETTLED IN THE
EMERGING STEEL MARKETS - MEPS
Brazilian flat product steelmakers have adopted more
aggressive pricing positions this month. Distributors have condemned the
adjustment as unwarranted, given the current trading climate. Several have
reverted to importing again as a result.
Procurement activity in Turkey remains erratic. Stockists are booking for only
immediate requirements due to continuing price fluctuations. The weakening in
the cost of key steelmaking ingredients has only aggravated the situation.
Support from external demand is limited.
Price volatility continues to hamper trading in the United Arab Emirates. Local
traders are divided over the growth prospects for the long products segment in
the fourth quarter. Underlying demand for finished steel products has fallen
short of industry projections – particularly, from construction firms and pipe
Challenging business conditions persist in the South African steel market.
Shipment volumes to the manufacturing and construction sectors continue to
underperform, weighed down by the ongoing threat of strike action spreading from
the mining sector.
Source: MEPS -
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