MARKET TALK: Brazil's Weaker Steel Demand Will Lead To Lower Prices

Date : 09/05/2011 @ 3:38PM
Source : Dow Jones News
Stock : Gerdau S.A. (GGB)
Quote : 3.35  -0.07 (-2.05%) @ 4:00PM

MARKET TALK: Brazil's Weaker Steel Demand Will Lead To Lower Prices

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[Dow Jones] Weakening steel demand in Brazil, coupled with continuing high inventories and a strong real should lead to lower steel prices in the South American country in second-half 2011, Barclays Capital says. While Brazil's imports of flat steel products fell 9% in August from the previous month, import are still 50% higher than the monthly average of first-half 2011 and nearly double 2009 levels, Barclays says. "We remain cautious on the outlook for flat steel makers," Barclays warns. (diana.kinch@dowjones.com)

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