February 2020

TURKEY COATED FLAT STEEL: Prices rise on demand moderate

Turkish domestic prices for hot-dipped galvanized coil (HDG) and color-coated coil increased again in the week to Friday February 28, amid moderate demand, sources told Fastmarkets.

Cargo vessel damaged near northern Brazil was carrying 295kt of iron ore, Vale says

Iron ore vessel MV Stellar Banner, grounded near the coast of Brazilian northeastern state of Maranhão earlier in the week, was carrying 294,871 tonnes of iron ore, a spokesperson for Brazilian mining company Vale told Fastmarkets on Friday February 28.

HOTTER ON METALS: Coronavirus adds pressure to diversify supply chains

The novel coronavirus (2019-nCoV) is set to accelerate what the trade wars started: the diversification of global supply chains.

POLAND REBAR: Domestic prices supported by firm demand, anticipated scrap costs rise

Polish domestic rebar prices were unchanged during the week to Friday February 28, supported by firm demand from the construction industry, sources told Fastmarkets.

TURKEY FLAT STEEL: Some prices increase, demand moderate

Some flat steel prices in Turkey have increased during the week ended Friday February 28, although demand was moderate and there was uncertainty in the market after at least 33 Turkish soldiers were killed in a military incident in Syria.

Border closures restricting steel exports from Iran

The steel export trade from Iran has been hurt by neighboring countries closing their borders due to the appearance of coronavirus infection in the Middle Eastern country, Fastmarkets learnt on Friday February 28.

Attack in Syria brings steel trade in local Turkish market to a halt

Trading in Turkey's domestic steel market has stopped following an airstrike in Idlib in northwestern Syria, that resulted in the deaths of at least 33 Turkish soldiers, market sources told Fastmarkets on Friday February 28.

Pakistan's Al-Haj Asia Star to enter import scrap market, begin steelmaking in March

Sino-Pakistani steel producer Al-Haj Asia Star Steel will begin production of steel rebar in northern Pakistan from early March and will enter the market for imported scrap, Fastmarkets has been told.

Sustained Turkish scrap uptrend fails to boost SE Asian billet prices

Prices in Southeast Asia’s steel billet market continued to face multiple headwinds in the week to Friday February 28, despite the sustained uptrend in the bellwether Turkish ferrous scrap import market.

COKING COAL DAILY: Outlook bearish but spot prices hold firm

Seaborne coking coal prices were largely stable on Friday February 28, although some market participants in China said that a correction was likely due to rising concerns about the global macroeconomic situation given the spread of the novel coronavirus (2019-nCoV) outside China.