Tag Archives: MEPS International


According to MEPS, Russian trading houses expressed reservations over the necessity of the latest round of price hikes. The majority stress that the initiative is unsustainable and does not reflect real demand. End-users are exhibiting little urgency to purchase material, even with discounts granted.

The Indian steel market has been unsettled by pre-budget expectations, weak market fundamentals and volatile raw material costs. Attention is being paid to the negotiation of coking coal and iron ore contracts.

The outlook for the Ukrainian market is unchanged. Long product steel sales fell and are unlikely to recover until the construction season restarts. Meanwhile, steel production has been disrupted due to raw material shortages.

The business climate remained unsettled in Turkey, this month. Local service centres plan to keep stocks low in the near term and are purchasing cautiously. Construction demand is lower than anticipated. Flat product buyers are reluctant to take positions, amid changeable domestic and foreign quotations.

Price volatility unsettled buying activity in the United Arab Emirates, this month. Local traders are extremely reluctant to purchase material in, what they deem as, precarious trading conditions. Several firms plan to observe the global reaction to the re-opening of the Chinese market. In early trading, Emirati rolling mills opted to lower their selling figures.

Source: MEPS – Developing Markets Steel Review – February Edition


According to MEPS, Brazilian service centres are concerned that the latest domestic price levels are not supported by market and economic fundamentals. Presently, most firms are purchasing material only on a requirement basis.

Challenging business conditions persist in the Russian Federation. Trading houses expressed bearish views over the growth prospects for domestic steel consumption in the February-April period.

The outlook for the Indian steel market is unchanged. Distributors remain divided about the government’s decision to extend the minimum import price (MIP), which elapses on February 4. Currently, nineteen products are covered by the framework.

Ukrainian steelmakers are divided over the growth prospects for the long products segments in 2017. In the past twelve months, underlying demand for finished steel products has consistently fallen short of industry projections – particularly, from construction firms and pipe fabricators.

Business confidence deteriorated in Turkey, this month. Local stockists contend that the re-emergence of price volatility in domestic quotations has made it a high risk to complete deals at this stage. The situation has been exacerbated by the strength of the US dollar against the Turkish lira and weak economic fundamentals.

The trading environment is unchanged in the United Arab Emirates. Local service centres are extremely reluctant to purchase material in what they deem as precarious business conditions.

South African distributors plan to persevere with conservative procurement strategies, next month. Shipments to the construction and infrastructure projects remain scarce. End-users intend to steer clear of substantial flat product purchases in the interim.

The outlook for the Mexican steel market is unchanged. Flat product spot market sales decreased. Bearish buyers are reluctant to purchase at current transaction values. The strong US dollar against the Mexican peso is also having a negative effect on sales.

Source: MEPS – Developing Markets Steel Review – January Edition


Domestic selling figures across the Nordic region remain under pressure, according to MEPS. Buyers of hot rolled coil are reluctant to hold stock because they feel unable to predict price trends, in the near future. Competition between suppliers is keeping profit margins tight.

Business activity for commodity plate is depressed. No change is foreseen in the immediate term. Buyers in Norway report that imports from China are being offered, although quality issues make them unsuitable for some end-users.

Cold rolled coil sales tonnages have been reasonable in September and October. However, prices are down. Meanwhile, demand for coated coil is satisfactory but buyers are wary of the likely effects of the Chinese slowdown and the Volkswagen car emission scandal.

Drawing quality wire rod transaction values have moved lower. Competition between local suppliers remains tough and has been exacerbated by increased imports from Russia.

Sales volumes of structural sections have dropped off since mid-September. Slower growth in China has had a knock-on effect, in Europe. Delivery lead times from regional mills are very short, at one or two weeks.

Rebar consumption is mediocre. Transaction values dropped in October. Subdued demand and further reductions in scrap costs are putting selling figures under pressure.
End-users of merchant bar are only buying for their immediate needs. Stockists are too reluctant to build inventory. Prices continue to fall.

Source: European Steel Review Supplement – October Edition