May 2012 | Steel Tracker
CIS prices still under stress: International Long Product Market Analysis
The lull in domestic demand will be followed by the lull in the MENA region as Ramadan falls earlier this year in July
The weaker outlook for the CIS market has prevented any price growth over the past couple of months as exporters and traders have struggled to fill order books. It was hoped that after the harsh winter, which saw ports on the Black and Baltic Sea freeze up preventing transport of material, buying activity would resume as the warmer weather would promote construction activity.
However, the anticipated rush failed to materialise, promptly forcing CIS exporters to revise offers lower towards the end of April, which have carried through to May. Turkish re-rollers, which make up a significant quantity of CIS exports, have been largely absent from the market since the start of the year, opting to source smaller quantities of material locally, but with the weather improving we expect domestic demand to pick up first...
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