Steel price growth is limited due to the situation in the markets of India, Russia and China

The MEPS Steel Market Review shows that the Russian industry remains optimistic about the outlook for production and consumption in the third quarter of 2014. During this period, demand is expected to grow in the construction industry, mechanical engineering and other industries, but it will be restrained.

Uncertainty continues to upset India's business confidence index. The monsoon season was tougher than expected. Domestic steelmakers have resisted discounts and better payment terms. Metallurgists fear that such measures, along with the instability of fuel prices, will have a counterproductive effect on production.

In China, business activity has weakened in recent weeks. Local stockists explain this by continuing price fluctuations and the arrival of the rainy season.
MEPS notes that Ukrainian distributors are trying to adapt to the unpredictable business environment. However, supplies for construction and infrastructure projects remain scarce.

Turkish metallurgists are moving towards higher values ​​in distributor deals with varying success. Their efforts to support prices through external demand are limited.
Demand for structural steel in the United Arab Emirates is driven by price index changes and the close proximity of Ramadan periods. In addition, buyers believe it has become too risky to close deals at this stage due to volatile import prices.

Stable trading conditions for the third quarter of 2014 are forecast for the Mexican market. Underlying demand for steel products is expected to be driven by consumers in the automotive and construction industries.