May 2020

CIS PIG IRON: Chinese demand supports market

The market for pig iron exports from the Commonwealth of Independent States (CIS) edged higher in the week to Thursday May 28, supported by continued demand from China while other traditional outlets remained quiet.

CHINA REBAR: Domestic prices push higher on iron ore gains

China’s domestic rebar prices continued to rise slightly on Friday May 29, following the strength in the iron ore market.

RESEARCH: Key takeaways from the latest Steel Raw Materials Market Tracker

The latest forecasts from Fastmarkets’ team of analysts are ready to view.

TAIWAN SCRAP: Prices climb up on supply squeeze

Prices for heavy melting scrap (HMS) imports in Taiwan rose over the week to Friday May 29 due to an ongoing supply deficit, sources said.

Malaysia's Ann Joo, Southern Steel call off JV plan

Malaysia's Ann Joo Resources Berhad (AJRB) and Southern Steel Berhad (SSB) have mutually terminated a plan for a long steel manufacturing joint venture, citing uncertain market conditions created by the Covid-19 pandemic, the latter announced on Wednesday May 27.

IN CASE YOU MISSED IT: 5 key stories from May 28

Here are five Fastmarkets stories you might have missed on Thursday May 28 that are worth another look.

US HRC pops above $25/cwt; fluke or recovery?

Hot-rolled coil prices in the United States have moved above $25 per hundredweight ($500 per short ton) for the first time in more than seven weeks on expectations of higher scrap costs and cautious optimism about improving demand.

US market eyes flat steel imports, but volumes decline in April

While increased domestic flat steel prices could invite more imports into the United States, according to market participants, preliminary Census data shows that shipments of finished steel products in April declined on a year-on-year basis.

EUROPE HRC: Domestic prices reach bottom in the north

Domestic prices for hot-rolled coil in Northern Europe have been fairly stable day on day and sources said they were unlikely to fall significantly despite slow demand, sources told Fastmarkets on Thursday May 28.

CIS STEEL BILLET: Prices down on lack of demand in Asia

Export billet prices from the Commonwealth of Independent States (CIS) continued to weaken in the last week of May amid a lack of support from customers in Asia, particularly China.