STEEL NEWS

DEVELOPING MARKETS’ STEEL PRICE MARKET ROUNDUP FROM MEPS

The Brazilian steel industry remains upbeat over the general outlook for 2014. State-funded infrastructure projects and social housing developments are expected to play a prominent role in proceedings.

The outlook for demand in the Russian Federation is unchanged. Local steelmakers are under pressure to reduce production targets into line with steel consumption rates. The distribution chain plans to persevere with conservative inventory levels over the winter trading period. 

The market for finished steel in India has remained subdued in the post-Diwali period. The steel industry is divided over the prospects for domestic steel consumption and price direction in the first quarter of 2014.

The trading environment remains challenging in the United Arab Emirates. Underlying demand for finished steel products has fallen short of industry projections – particularly, from construction firms and pipe fabricators. Emirati traders plan to persevere with conservative inventory levels in the interim.

Downstream demand for finished steel in Mexico has fallen short of market projections. Distributors are expected to persevere with cautious procurement strategies next month.