DEVELOPING MARKETS STEEL PRICE ROUNDUP FROM MEPS

DEVELOPING MARKETS STEEL PRICE ROUNDUP FROM MEPS

The outlook for demand in Brazil is unchanged. Local steelmakers are under pressure to reduce production targets in line with steel consumption rates.

Russian steel producers are growing more pessimistic about the prospects for domestic finished steel consumption in the first quarter of 2016. The majority have continued to search for new overseas buyers.

The market for finished steel in India has remained subdued in the post-Diwali period. Local service centres are extremely reluctant to purchase material in, what they deem as, tricky trading conditions. End-users have been wary of finalising purchases in a falling market.

The Ukrainian steel market has entered a period of low seasonal demand. Shipments to industrial companies have continued to deteriorate in the trading period surveyed.

Turkish steelmakers are increasingly looking overseas for new buyers. Local stockists plan to persevere with conservative inventory levels in the short term.

The business environment remains challenging in the United Arab Emirates. Local construction firms are unwilling to purchase more steel than they need to meet their near-term requirements. The downward movement in import quotations has made them reluctant to do any significant deals at this stage.

Mexican distributors plan to hold off purchasing until January to see how demand develops. The National Chamber of Iron and Steel Industry (CANACERO) continues to press the government to impose stricter trading rules and criteria for importing steel.

Source: www.worldsteelnews.com/

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