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CIS steel billet suppliers reluctant to cut prices further
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The steel traders in the CIS countries along with Black Sea and Caspian Sea ports are now reluctant to reduce the prices of steel billets as the lower prices may not stimulate any firm orders, according to UK based MEPS.
Local re-rollers in Middle East would not risk buying larger quantity.
The low priced imports and unstable economic environment have made it hard to offer the wire rod and reinforcing bar.
In Iran, the local re-rollers are reluctant to commit larger quantity of purchase and it is also difficult to finance purchases due to the sanction.
The demand for steel from the construction sector has continued to be weak. Furthermore, the upcoming summer holiday season and Ramadan will all dampen the sales activity.
News Date
7/5/2012 9:45:05 AM
reported by
Mike Lo
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