Carbon steel

Wire rod offers to India down by $20 per tonne
May 24, 2012 - 18:48 GMT
Offer prices for wire rod to India dropped by almost $20 per tonne this week as sellers, mainly in the CIS, cut their prices.
Turkish domestic rebar prices steady on buyer hesitation
May 24, 2012 - 17:05 GMT
Domestic rebar prices in Turkey are largely unchanged week-on-week, according to most market participants.
Indian importers reject plate offers even after $10 price cut
May 24, 2012 - 15:13 GMT
Indian importers have rejected offers for plate even after prices were slashed by $10 per tonne this week.
SE Asia’s billet prices down $5 tracking scrap price fall
May 24, 2012 - 03:55 GMT
Billet prices in Southeast Asia have fallen by $5 per tonne in the past week, tracking the lower scrap prices, mill and trading sources in the region said
Turkish rebar export prices follow billet down
May 23, 2012 - 17:10 GMT
Rebar export prices from Turkey have followed billet prices down, declining by $20 per tonne over the past week, market sources told Metal Bulletin.

Carbon Steel Long Products

May 24, 2012 18:48 Wire rod offers to India down by $20 per tonne
May 24, 2012 18:33 LME BILLET REPORT: Three-month official prices fall to $400/410 per tonne
May 24, 2012 17:43 ArcelorMital discusses anti-pollution policy, plans more high-strength steel research
May 24, 2012 17:23 Local billet prices in Turkey hold steady for second week
May 24, 2012 17:05 Turkish domestic rebar prices steady on buyer hesitation
May 24, 2012 14:55 Turkish merchant bar prices unchanged but face rising pressure
May 24, 2012 11:01 CHINA STEEL WRAP: Spot rebar prices down on market weakness
May 24, 2012 10:30 Severstal Q1 earnings down 27% on low domestic steel demand
May 24, 2012 10:25 S Europe rebar prices unchanged week-on-week
May 24, 2012 10:15 Northern Europe rebar prices steady for second week
May 24, 2012 05:10 SE Asia’s wire rod prices fall on cheaper imports from China
May 24, 2012 03:55 SE Asia’s billet prices down $5 tracking scrap price fall
May 24, 2012 00:52 WIRE ROD SUPPLY CHAIN CONF: Lawyers disagree on US trade remedies
May 24, 2012 00:46 US steel imports log year-over-year climb
May 24, 2012 00:39 WIRE ROD SUPPLY CHAIN CONF: Illegal trade hindering US recovery, Ferriola says
May 24, 2012 00:35 Correction: Gerdau optimistic, but wary of rod imports
May 24, 2012 00:24 WIRE ROD SUPPLY CHAIN CONF: US manufacturing revival due, Marlin Steel says
May 24, 2012 00:08 WIRE ROD SUPPLY CHAIN CONF: Trade law enforcement an issue for US wire sector
May 24, 2012 00:01 WIRE ROD SUPPLY CHAIN CONF: Low gas prices to give US steelmakers edge
May 23, 2012 17:33 Rebar export prices in S Europe hold steady for second week
May 23, 2012 17:28 LME BILLET REPORT: Officials creep up, stocks hold steady
May 23, 2012 17:20 Euro concerns hurt Turkey's billet export prices
May 23, 2012 17:10 Turkish rebar export prices follow billet down
May 23, 2012 11:10 CHINA STEEL WRAP: Rebar prices at seven-month low
May 23, 2012 07:42 China H-beam prices plunge in weak market

[more]

Carbon Steel Flat Products

May 24, 2012 17:35 Brazil's Randon to invest $1.2bn in five-year expansion plan
May 24, 2012 15:35 Chinese HRC export prices fall further
May 24, 2012 15:13 Indian importers reject plate offers even after $10 price cut
May 24, 2012 12:50 Severstal sees Russia export prices drop on weak Europe demand, lower costs
May 24, 2012 11:01 CHINA STEEL WRAP: Spot rebar prices down on market weakness
May 24, 2012 11:00 Severstal North America sales up 23% in Q1
May 24, 2012 00:46 US steel imports log year-over-year climb
May 23, 2012 21:36 Brazil’s flats distributors buy 11% less steel in April
May 23, 2012 21:27 Usiminas’ Cubatão blast furnace at full rate after fire
May 23, 2012 19:32 ArcelorMittal Tubarão to idle No.3 furnace
May 23, 2012 17:43 European HDG price tracks decline in coil prices
May 23, 2012 17:17 Weak sentiment depresses domestic European coil prices
May 23, 2012 15:55 European coil import prices start to slip on low demand
May 23, 2012 14:40 European plate market under pressure from high stocks, import offers
May 23, 2012 11:10 CHINA STEEL WRAP: Rebar prices at seven-month low
May 23, 2012 07:07 Re-rolling HRC offers into Vietnam down $5-35
May 22, 2012 16:32 Argentina’s steelmakers to invest $300m in 2012
May 22, 2012 15:27 CRC offer prices to India fall by $10 per tonne
May 22, 2012 12:36 Cognor's Q1 earnings fall though improved prices boost revenues
May 22, 2012 11:10 European Commission to investigate Inoxum-Outokumpu merger
May 22, 2012 09:03 CHINA STEEL WRAP: Spot rebar prices unchanged
May 22, 2012 06:38 Evraz Highveld posts Q1 loss amid 'challenging' markets
May 22, 2012 06:35 Indian plate export prices down $10/T
May 22, 2012 06:33 Flat products lead drop in Brazil's domestic steel sales in April
May 22, 2012 06:31 China's CRC export volume passes 250,000T in April

[more]


Daily Metal Bulletin Ferrous scrap Index HMS 1&2 (80:20 mix) $ per tonne cfr Turkey	425.26
Metal Bulletin Ferrous Scrap Index shredded $ per tonne cfr India	476.28
Metal Bulletin Ferrous Scrap Index HMS 1&2 (80:20 mix) $ per tonne fob Rotterdam	410.21

Comment & Analysis

MAN OF STEEL: The only way is down

Bleak news wherever we look. We see examples of low prices for all steel products being achieved in China, India, Brazil, the USA and Europe. The Russian market is weak and the CIS mills are now eyeing all export markets to get rid of serious tonnage.
Why buy for stock? A stockist responds to Man of Steel

“Why buy for stock?” was the question recently raised in our Man of Steel column. The assertion that the market is currently fundamentally flawed and leaving participants uncertain over whether to stay short or go long, has aroused some opposition, and prompted this stockist, who wishes to remain anonymous, to write.
MAN OF STEEL: Why buy for stock?

A remarkable amount of mixed messages proliferate in the market right now. Headlines about mills asking for increases in list prices, lead straight into stories about softening demand.

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Poll of the week

To what extent has the handling of the MF Global bankruptcy, UBS’ rogue trading scandal and now JP Morgan’s harpooning of the London Whale damaged your confidence in the City as a global financial hub?

Not at all – these events could have happened anywhere
Slightly – large losses and the slow recovery of client cash suggest the regulatory framework could be stronger
Moderately – These events show global banks are using London to take risks they couldn’t take anywhere else
Drastically – I’ll be in Singapore by the end of the week