UK based MEPS said that in Brazil, effective prices of finished steel products were raised at the beginning of March 2011. This was achieved through a reduction in the concessions granted in late 2010. Concerns remain that aggressive pricing positions will only reinvigorate import activity. Inventories are forecast to fall to the normal level of two and a half months during April 2011.
Russian steelmakers issued higher selling values in March 2011. Downstream manufacturers remain disgruntled with their suppliers' price demands. In Ukraine, procurement activity has fallen below the levels witnessed in January 2011. Flat product steelmakers introduced another price increase, which was attributed to a tightening of supply and rising raw material rates.
The Indian steel industry faced tough market conditions in March. Domestic steelmakers and trading companies sought to maximize their sales revenues before the end of the current fiscal year. Flat product customers witnessed modest price gains in early discussions, whilst price instability continued to disrupt trade in long products. End users are only purchasing small quantities of material, fearing that local prices will continue to deteriorate.
Demand for steel products in Turkey remains frail. End-users are only procuring small quantities of material. This is expected to continue until there is a clearer price direction. Effective transaction values for domestically produced flat rolled steel softened in March. Downward pressure has also been exerted on long product offers. Producers have continued to face stiff price competition from distributors.
Procurement activity has not improved in the United Arab Emirates. Effective import prices are under pressure and are expected to retreat from the current levels. Most distributors are observing market conditions, with material only being purchased on a requirement basis.
In South Africa, AMSA has announced that it intends to lift flat product prices for April deliveries. Long product quotations will remain unchanged. Leading distributors intend to pass on the rises to their end user customers.
( source: www.steelguru.com )