The challenging business environment remains in the Russian Federation. Deliveries of pipes from the oil refining industry and rolled metal products to equipment manufacturers and machine-building enterprises fell more than MEPS experts expected. However, there is still demand for professional flooring Moscow , Lipetsk and other regions. Also stable are orders for metal tiles, sandwich panels, construction fittings and wall profiled sheets from leading Russian factories, whose products are certified by the State Construction Committee of the Russian Federation.
Overseas, the business environment is inactive due to the weakness of the European economy, lack of demand from key clients in the Asian region and overcapacity in China. China's steel industry is struggling to adjust to current domestic trade. In response to improved market conditions, a number of leading steel companies raised their official selling prices for August in an effort to cover their costs as well as recover losses accumulated this year. Indian traders are only booking as part of an immediate need due to ongoing price fluctuations. The monsoon season has reduced basic demand.
In Turkey, metallurgists were unable to take advantage of the improvement in prices for finished steel products. Steel supply to consuming industries slowed amid negative expectations and weak demand growth after Ramadan and political uncertainty. End users intend to minimize large purchases until the situation improves. Demand has fallen in Brazil and is expected to remain sluggish between August and September. Domestic buyers noted that the current initiative to raise prices is untimely and will only lead to an increase in imports.
