April 2020

US domestic beam prices drop, import prices inch up

Domestic steel beam prices in the United States slipped in April on weaker demand and price reductions by mills, while import prices edged slightly higher in the face of collapsing demand due to foreign mills resisting price cuts.

IN CASE YOU MISSED IT: 5 key stories from April 30

Here are five Fastmarkets stories you might have missed on Thursday April 30 that are worth another look.

Most US flat steel import prices drop sharply

A free-falling domestic flat-rolled steel market has sent more pressure to the foreign mills that are shipping their steel products to the docks in the United States, resulting in further declines on prices of most imported flat steel products.

Mexican auto industry expected to “gradually resume” in May, Ternium says

Latin American steel group Ternium expects the Mexican automotive industry to "gradually" restart operations in May, chief executive officer Máximo Vedoya said on Wednesday April 29.

AT A GLANCE: Tesla’s earnings up 32% in Q1 despite headwinds by quarter-end

A summary of US-based electric vehicle (EV) manufacturer Tesla’s financial results for the first quarter of 2020.

Key takeaways from the latest Stainless Steels Tracker

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

AT A GLANCE: Erdemir Group Q1 earnings down on lower production, sales

A summary of the financial results for Turkey’s largest steelmaking group, Erdemir, for January-March 2020.

Indian steel mills unlikely to cut domestic HRC prices in May despite weak demand

Indian steel mills are unlikely to cut domestic hot rolled coil prices for sales in May, private mill sources in the country told Fastmarkets this week.

Russian miners, steelmakers request equal access to eastbound rail

The Russian Steel Association has called for equal access to the country’s railway infrastructure so that its members can export goods to eastern destinations, according to a local news report published earlier this week.

Ternium delays start-up of finished steel mills amid Covid-19

Latin American steel group Ternium expects to delay the start-up of some projects in order to preserve cash during the Covid-19 pandemic.