May 2020

TURKEY COATED FLAT STEEL: Prices mostly unchanged; local demand strong

Turkish domestic prices for hot-dipped galvanized coil (HDG) and color-coated coil were mostly stable in the week to Friday May 29, amid strong local demand and low stock levels in the country, sources told Fastmarkets.

POLAND REBAR: Market stability fragile as buyers push for lower prices

Domestic steel rebar prices in Poland stabilized in the week ended Friday May 29, despite pressure from buyers, with producers reluctant to cut prices further because of high output costs, sources told Fastmarkets.

DAILY SCRAP REPORT: Turkish mills book more cargoes; prices inch higher

Turkish steel producers continued their deep-sea scrap purchases on Friday May 29, with prices increasing slightly, sources said.

IRON ORE DAILY: Seaborne iron ore prices rise sharply on concerns over supplies from Brazil

Seaborne iron ore prices increased rapidly on Friday May 29 on growing concerns over supplies from Brazil.

JSW Steel slashes planned capex, delays projects on lockdown problems

Indian steelmaker JSW Steel will reduce its planned capital expenditure in 2020/21 to 90 billion Indian rupees ($1.19 billion), down from the previous figure of 163.4 billion rupees, and will also delay several projects, the company said in a recent results statement.

COKING COAL DAILY: Seaborne premium prices slump after emergence of lower-priced deals

Premium hard coking coal prices slumped after lower transaction prices emerged on Friday May 29, amid concerns that quota restrictions in China will be tightened.

VIETNAM SCRAP: Market continues hot streak, but forecasts diverge

Prices for bulk ferrous scrap cargoes imported into Vietnam have continued to rise over the week ended Friday May 29 but some market sources were unsure whether the upward momentum would persist.

Southeast Asia billet import prices retreat on subdued China demand

Prices in Southeast Asia’s steel billet market tumbled over the past week due to weaker demand from Chinese importers, sources said.

CHINA HRC: India raises offers after surge in Chinese domestic prices

China’s domestic hot-rolled coil prices surged on Friday May 29 after futures gained across the steel sector overall, motivating Indian sellers to raise their offers on goods to be exported to China.

SOUTH KOREA SCRAP: Steelmakers forced to pay more for Japanese scrap

Ferrous scrap buyers in South Korea have been forced to pay higher prices for Japanese material over the week ended Friday May 29 due to sell-side pressure, market sources have told Fastmarkets.