March 2020

WEEKLY SCRAP WRAP: Prices crash further amid Covid-19 outbreak

Global ferrous scrap prices continued to fall sharply in major markets during the working week from Monday March 23 to Friday March 27, because of the worsening Covid-19 pandemic.

Maersk to suspend services on Asia-Europe network in Q2

Maersk Line, the world’s biggest container shipping company, will be suspending its North Europe (AE2) and Mediterranean (AE20) services on the Asia-Europe network during the second quarter of 2020.

TURKEY FERROUS SCRAP: Local prices down on decline in import values

Turkish domestic scrap prices have continued to fall in the past week, in line with the sharp downturn in imported scrap values due to the Covid-19 virus outbreak, sources said on Monday March 30.

Ferro-vanadium downtrend continues on weak consumer demand amid virus uncertainty

Ferro-vanadium prices continued to move down last week in Europe and China on weakening consumer demand due to the impact of the Covid-19 pandemic on business operations.

EMR announces cuts in UK operations due to coronavirus

European Metal Recycling (EMR) has shut down part of its operations in the UK due to the Covid-19 virus outbreak, the company said on its website on Friday March 27.

GLOBAL BILLET WRAP: Sentiment down on Covid-19 pandemic, China importing again

Most of the world’s markets for steel billet have been affected by the negative sentiment generated by the Covid-19 pandemic and the strong decreases in prices for ferrous scrap. Buyers in China, however, continued to import material.

Algeria cuts steel output to limit Covid-19 pandemic, sources say [UPDATED]

Algerian steelmakers Algerian Qatari Steel (AQS) and El-Hadjar Iron & Steel Complex have stopped crude steel production because of the Covid-19 pandemic, market sources told Fastmarkets on Friday March 27.

IRON ORE DAILY: Prices weaken as outlook for downstream sector turns sour

Seaborne iron ore prices dropped closer to the $80-per-tonne level on Monday March 30 on plunging rebar prices in China and a negative outlook for downstream demand in April among some market participants.

COKING COAL DAILY: Seaborne prices plummet on concerns about demand

Seaborne coking coal prices plummeted on Monday March 30, with steel mills - especially those outside China - expected to cut output in the second quarter.

CHINA HRC: Short-selling traders hesitate after mills announce production cuts

China’s domestic hot-rolled coil prices fell further on Monday 30 amid thin trading, while exporters have started to think twice about short-selling after mills announced plans to cut production.