June 2020

EUROPE HRC: Producers insist on higher prices despite limited demand

European steelmakers have been insisting on price rises for domestic hot-rolled coil despite demand remaining low, sources told Fastmarkets on Monday June 29.

Egypt’s rebar consumption decreases by 35% y-o-y in May

Egypt consumed 312,000 tonnes of rebar in May 2020, 35.36% less than the 482,700 tonnes consumed in May 2019, Egyptian sources told Fastmarkets.

DAILY STEEL SCRAP REPORT: Turkish mills remain silent, prices may fall further

The Turkish steel mills continued to shy away from deep-sea scrap purchases at the beginning of this week, expecting lower prices soon, sources said on Monday June 29.

TURKEY STEEL SCRAP: Domestic prices down on falling import values

Turkish domestic scrap prices have gone down over the past week in line with the latest downturn in imported deep-sea scrap values, sources said on Monday June 29.

Weak demand adds to pressure on vanadium markets; V2O5 drops 7%

European prices for vanadium pentoxide (V2O5) and ferro-vanadium continued to fall in the week ended Friday June 26 under pressure from weak end-user demand, with V2O5 prices dropping by 7%.

COKING COAL DAILY: Seaborne premium hard coking coal prices stable

Seaborne premium hard coking coal prices were largely stable on Monday June 29 due to a lack of trading, but most market participants expect hard coking coal prices to climb in line with the earlier increase in premium hard coking coal prices.

IRON ORE DAILY: 62% Fe fines index falls below $100/t for first time in three weeks

Seaborne iron ore prices fell on Monday June 29 due to a weak demand outlook, reflecting heavy rainfall in several parts of China and fresh pollution control restrictions imposed on mills in Tangshan for the month of July.

CHINA HRC: Prices weaken amid widespread floods

China’s domestic hot-rolled coil prices fell on Monday June 29 amid thin trading resulting from floods in various parts of the country.

Singapore rebar prices rise after Myanmar transaction

Demand for rebar imports in Singapore remained thin despite the expected gradual resumption of construction activity, market sources told Fastmarkets this past week.

CHINA REBAR: Heavy rain erodes demand, prices

China’s domestic rebar prices dropped on Monday June 29 to track falling futures amid a pessimistic outlook of demand during the rainy season.