Last Updated : 01 February 2013 at 03:20 IST
Steel market sentiments brighten in BRIC region: MEPS
Source :Commodity Online/MEPS
Indian steel industry is adding capacity to meet demand, iron ore supplies aren’t sufficient to meet demand. The Bureau of Indian Standards' (BIS) quality controls on coil, less than 6mm thick, wire rod and other steel products, comes into effect in March 2013
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LONDON (Commodity Online): Overall market sentiments in the BRIC (Brazil, Russia, India , China) region has brightened in January but dark clouds still loom in the horizon, according to an assessment by MEPS International.
Stability is expected in Brazil where production is rolled steel is forecasted at 26.2 mn tons, an increase of close to 4% over previous year.
- Russia steel demand trends aren’t bright- as doubt lingers on growth prospects in long steel and finished steel demand has fallen short of projections.
-Indian steel industry is adding capacity to meet demand, iron ore supplies aren’t sufficient to meet demand. The Bureau of Indian Standards' (BIS) quality controls on coil, less than 6mm thick, wire rod and other steel products, comes into effect in March 2013
-China consumption is expected to improve after Lunar Year Holdiays on firmer orders from construction, manufacturing sectors. The China Iron & Steel Association (CISA) has reported that the aggregate daily output of crude steel by the leading mills in the first 10 days of January totalled 1.944 million metric tonnes, an increase of 2.3 percent from late December.
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