Steel prices in BRIC countries fell 4 percent in December

Steel prices in the BRIC countries (Brazil, Russia, India and China) fell by an average of 4 percent in December 2015. This was reported by the analytical bureau MEPS.

In its review of the steel markets released on Monday, MEPS reported that it is seeing a decline in customer activity in the long and flat segment in developing countries.

Amid weak outlook for demand growth, buyers increased pressure on domestic prices, forcing sales to slow down towards the end of the year.

Steelmakers in Brazil are calling on the government to impose higher tariffs on imported rolled steel to protect their market share.

The Russian market is dominated by a decline in investment activity and weak domestic sales.

Steel prices continue to fall catastrophically in China, followed by falling prices for metallurgical raw materials. Clients are demanding more and more discounts, while the cost of rental is at prohibitively low levels.

Cheap imported rolled metal puts pressure on prices in South Africa.

The only ones who were able to keep prices from falling were Mexican steelmakers who took measures to protect the market and take advantage of the proximity to the US market, where they were able to increase sales due to the growth of the dollar.