BRAZIL STEEL MARKET ROUNDUP FROM MEPS
continues to be weak, in Brazil, according to MEPS. Hot rolled coil stockists
are now predicting that domestic suppliers will roll over their transaction
values in the next trading period.
Negative price sentiment persists in the commodity plate market. Steel intensive
industries continue to press their domestic suppliers for lower transaction
values. Meanwhile the Secretariat of Foreign Trade has initiated antidumping
investigations regarding imports of hot rolled carbon steel plate from China.
Cold rolled coil traders expect their domestic suppliers to maintain their
pricing positions in the next trading period. INDA has reported that imports of
cold rolled coil increased, in May, by 6.1 percent month-on-month. The majority
of this material was sourced from China.
The business environment in the wire rod market has become more difficult than
it was at the beginning of the year. Local traders plan to persevere with
cautious procurement strategies next month as a result.
Tough trading conditions persist in the structural sections market. The
distribution network continues to be weighed down by high inventory levels and
weak trading volumes. Similarly, merchant bar prices continued to be hampered by
weak market fundamentals.
Source: MEPS -
Steel Review - June Edition
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