Indian Steel market sentiment remains unchanged

MUMBAI (Scrap Register): Indian steel market sentiment is unchanged. Activity in key consuming industries of construction and manufacturing is dull at present. Primary steelmakers are increasingly looking overseas for new buyers, said MEPS International in a research note.

 

The Ukrainian steel market has entered a period of low seasonal demand. The steel consuming sectors most badly hit are construction and pipe fabricators.

 

Turkish steelmakers have struggled to adapt to the domestic trading environment. Local stockists plan to persevere with conservative inventory levels next month. There is reluctance on the part of buyers to commit to forward orders.

 

Difficult trading conditions persist in the United Arab Emirates. Transaction values have changed very little, month-on-month. Local construction firms are unwilling to purchase more steel than they need to meet their near-term requirements.

 

The business environment remains challenging in South Africa. Sales volumes are forecast to be muted over the holiday shutdown period.

 

Mexican transaction values have been largely stable over the last month. Distributors are holding off purchasing until January to see how demand develops.