BRIC STEEL PRICES INCREASE IN MARCH
BRIC steel prices may have
reached their lowest point after rebounding slightly, in March.
In this month’s issue of the Developing Markets’ Steel Review, MEPS reported
that the BRIC average transaction price advanced across all the flat and long
Chinese steel mill price offers soared, in March, as buyers rebuilt inventories
following the Lunar New Year holidays. Domestic crude steel production reduced
by 4 percent, in February, compared with twelve months ago. Supply may decline
further in the near term, as Chinese steel mills, in Tangshan, are reportedly
being ordered to reduce pollution during an international flower show between
April and October.
Brazilian flat product prices are steady, this month. Hot dipped galvanized
transaction values increased marginally as imports fell, in February, by 49.5
percent, month-on-month. However, domestic long product figures continued to
fall as market activity remained lacklustre.
In Russia, local producers secured higher transaction prices, in March. Cold
rolled coil figures rose by 4 percent, month-on-month. Long product values
advanced despite order intake remaining muted.
Following the introduction of the minimum import price framework, in India, we
noted that buyers remain hesitant to place orders. However, flat and long
product values increased marginally, in March.
Source: MEPS -
Steel Review - March Edition
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