January 2020

Steel groups cheer USMCA's passage into law

The United States-Mexico-Canada agreement (USMCA) cleared its third and final hurdle within the US on Wednesday January 29 after it was signed into law by President Donald Trump, drawing praise from steel groups.

US ferrous scrap export prices tumble in latest deals

The United States' ferrous scrap export market has weakened on both the East and West Coast, with new sales occurring at lower prices to Turkey and South Korea.

US stainless scrap prices hit by nickel fall

Stainless steel scrap prices in the United States have weakened after the London Metal Exchange cash nickel price fell below the $6-per-lb mark.

EUROPE HRC: Domestic prices rise on uncompetitive imports, strong local orders

Domestic prices for hot-rolled coil have increased across Europe, supported by good order books at European mills and a lack of competitive import offers, sources told Fastmarkets on Wednesday January 29.

EUROPE WIRE ROD: Prices steady as market waits for further scrap losses

The price of steel mesh-quality wire rod in the European domestic markets was unchanged this week, with participants anxious about how far ferrous scrap prices would fall, sources told Fastmarkets on Wednesday January 29.

EUROPE REBAR: Prices stable, activity quiet as market mulls next move

Prices were stable and trading activity was quiet this week in the European domestic rebar markets, with participants waiting to see how prices would develop in February, sources told Fastmarkets on Wednesday January 29.

EUROPE SECTIONS: Steady prices could rise on thinning import quotas, rising feedstock costs

Hollow steel sections prices in Europe were unchanged this week, despite increasing feedstock costs and quickly expiring import quotas, market sources told Fastmarkets on Wednesday January 29.

PEOPLE MOVES: Alcoa sales VP Perez to leave company after 18 years

Iñigo Pérez, vice president of Europe and Asia sales at Alcoa, will be leaving the aluminium producer after working there for 18 years, Fastmarkets understands.

DAILY SCRAP REPORT: Fresh US cargo sends indices down by $10

Turkish deep-sea scrap import prices declined sharply once again, following the fresh United States' cargo deal heard on Wednesday January 29.

EUROPE BEAMS: Market prepares for next round of increases

The prices of steel H-beams in Europe were unchanged on Wednesday January 29 with mills working toward further price increases in February, sources have told Fastmarkets.