Rolled steel trading volumes were stronger than forecasted in the Russian Federation in the past month. The local distribution network has launched its procurement programs in anticipation of further price increases from domestic suppliers. Traditionally, the construction season begins in mid-April.
Brazilian steelmakers are optimistic about the prospects for growth in domestic consumption of rolled steel. However, service centers and traders are concerned about the rise in prices accepted by their domestic suppliers. Most argue that the latter initiative is unsustainable and does not reflect real demand. Meanwhile, Instituto Aço Brasil and the Department of Foreign Trade (MDIC) have expressed their reservations regarding the US Department of Commerce Section 232 investigation.
Business confidence in India has not changed. Local service centers are reviewing their inventory and are very cautious about placing orders. The increase in the purchase price has not yet been reflected in distributors' sales to end users. Meanwhile, exporters plan to monitor the global response to the reopening of the Chinese market before closing any new deals.
Difficult trading conditions remain in Ukraine. Distributors found it difficult to go through last month's price adjustments for their internal customers. Tight lending conditions continue to discourage investment in construction and infrastructure projects. Moreover, export markets are complex.
In February, Turkish steelmakers questioned the need for a final round of price increases. Most of these firms plan to keep stocks to a minimum and only procure materials based on requirements. Speculation is rife with local steelmakers pushing up prices in March. Meanwhile, Turkish exporters conveyed concerns following the disclosure that the US Commerce Department's Article 232 report, alternatively, advocated that steel products from Turkey should be subject to a 53 percent import tariff.
In the United Arab Emirates, market sentiment is weak amid cool demand. Although stocks are fairly modest, many distributors can wait before ordering more material. Local forecasters expect demand in 2018 to remain relatively unchanged from the previous year. Export opportunities are limited outside the GCC region.
Purchasing volumes in South Africa are expected to be stable in the next trading period. Local service centers and traders are optimistic that the business environment will improve under the ownership of President Kirill Ramaphosa. However, the demand for sales and construction in the mining industry is slow
Subscribe to news
Metallurgy news
- 06 May 2024
10:21 Indian metallurgy may face obstacles in raw material supply - 01 May 2024
10:11 US stainless steel prices continue to rise - 29 April 2024
10:57 EU steel industry faces supply and demand challenges - 12 April 2024
09:52 EU steel demand to recover in 2025 - Worldsteel - 05 April 2024
12:40 Liberty's European division is headquartered in Vienna - 01 April 2024
12:51 The number of electric vehicles in Kazakhstan has increased ninefold over the year 12:37 Liberty Czestochowa is preparing to resume production - 27 March 2024
11:38 Ferrexpo faced restrictions on the corporate rights of Ukrainian subsidiaries
Publications
06.05 Selection of food for cats and dogs 04.05 Bituminous shingles in the EuroRoof online store 03.05 The best price of a stretch ceiling per m2 with work in Kyiv from the manufacturer Demi-Lune 02.05 Protein in the HealthFit online store 02.05 I-beams of European standards