BRIC Countries’ average transaction prices have increased for all eight carbon steel product forms.
The outlook for the Brazilian steel market was unchanged during January. The business environment is forecast to remain stable in 2013, despite on-going problems of overcapacity and volatile raw materials costs. The global supply of coking coal and iron ore is likely to remain relatively tight. The Instituto Aço Brasil (IABr) reports that in 2012, production of rolled steel totalled 26.2 million tons, an increase of nearly four per cent compared with the previous year’s figure.
Russian steelmakers are divided over the growth prospects for the long products segment in 2013. Underlying demand for finished steel has fallen short of industry projections – particularly, from construction firms and pipe fabricators. Evraz plans to complete the US$800 million acquisition of the coking coal miner, Raspadskaya, in the first quarter of 2013.
The Indian steel industry is expected to continue to add capacity to meet growing domestic demand and Chinese traders expect steel consumption to improve after the Lunar New Year holidays, supported by firmer orders from the construction and manufacturing sectors.