February 2020

US hot-rolled coil index inches higher; mills kick off new increases

Extended lead times at mills in the United States and expectations that scrap prices will rise in March have continued to drive gains in domestic hot-rolled coil pricing, and also sparked a fresh round of mill hikes.

AT A GLANCE: Grupo Simec net sales down in 2019 on lower Q4 shipments, prices

A summary of Mexican long-steel producer Grupo Simec's financial performance in the fourth quarter and full year 2019.

Iron ore cargo vessel contracted by Vale damaged near Brazilian coast

A vessel contracted by Brazil-based miner Vale is grounded off the coast of the country’s north-eastern Maranhão state, having suffered damage after leaving the Ponta da Madeira Maritime Terminal earlier this week.

EUROPE HRC: Domestic prices inch up on long lead times, lack of imports

Domestic prices for hot-rolled coil in Northern Europe inched up day on day on Thursday February 27, supported by long delivery times for domestic material and a lack of import offers, sources told Fastmarkets.

TURKEY STEEL BILLET: Prices flat on steady scrap costs

Turkish steel billet prices have remained stable over the past week on steady imported scrap costs, sources said on Thursday February 27.

TURKEY LONG STEEL: Prices up on weaker lira; demand firm

Turkish rebar and wire rod prices have continued higher over the past week due to a weakening lira against the dollar, while demand for the materials has also been improving, sources said.

TURKEY LONG STEEL EXPORTS: Prices remain flat amid poor demand

The Turkish long steel export markets have been silent over the past week with limited demand in the major markets, sources said on Thursday February 27.

DAILY SCRAP REPORT: Mills stay away from deep-sea bookings, prices flat

Turkish steel mills have continued to stay away from the deep-sea scrap markets to try to keep pressure on prices, sources said on Thursday February 27.

EGYPT STEEL BILLET, REBAR: Prices increase, demand weak

Prices for imported steel billet and domestic rebar in Egypt increased in the week ended Thursday February 27, but demand was still weak, sources told Fastmarkets.

FOCUS: Coronavirus-linked tight cashflow, weak demand push China’s SiMn price lower

The Chinese domestic price for silico-manganese has drifted downward significantly in recent assessments because some alloy smelters reduced their offer prices to attract buying interest and generate cash amid the sluggish demand circumstances created by the outbreak of the 2019-nCoV coronavirus, market participants have told Fastmarkets.