HIGHLIGHTS: China billet prices slump, Tata Steel UK sale edges on, Brazil’s Rousseff impeached...

Editor Vera Blei looks at the main news covered by Steel First over the past week.

Global billet, scrap and long products markets ground to a hold this week, as market participants tried to get to grips with the dramatic decline in Chinese domestic billet prices.
The benchmark Tangshan billet price registered a 280 yuan ($43) per tonne decline throughout the week to finish at 1,950 yuan ($300) per tonne including VAT, following a 260 yuan ($40) per tonne drop in the previous week.
Steel First’s weekly price assessment for billet imports into Turkey was $390-400 per tonne cfr on Thursday May 12, down from $430-450 per tonne a week ago.
While billet prices tumbled, the deep-sea scrap market into Turkey remained quiet, with market participants expecting price declines of at least $35-40 per tonne.

Import prices for containerised HMS-grade scrap in Taiwan plunged by $40 per tonne as local buyers stepped...


Vera Blei

May 13, 2016

20:30 GMT