August 2020

Mexico to monitor steel pipe exports to US

Following consultations between Mexico and the United States, the southern country will establish an export monitoring program for shipments of standard pipe, mechanical tubing and semi-finished products to the US.

US plate prices rebound after mills attempt hikes

Prices for carbon steel plate in the United States strengthened for the first time this year after mills announced that they would seek price increases.

US hot-rolled coil prices surge on demand rise

Hot-rolled coil prices in the United States surged past $25.50 per hundredweight ($510 per short ton) only one trading day after rising above $25 per cwt for the first time since mid-June, propelled by a round of domestic mill price increases and slowly rising demand.

US rebar, shredded scrap price spread narrows

Fastmarkets examines the factors affecting the price spread between domestic steel reinforcing bar and shredded scrap over the past two years.

WTO establishes panel to review EU safeguard measures on steel imports

Members of the World Trade Organization have agreed to the establishment of a dispute panel to review a complaint filed by Turkey regarding the European Union’s safeguard measures on imports of certain steel products.

UAE’s Conares Steel to invest in tube and pipe mill in Dubai

The United Arab Emirates’ Conares Steel will build a tube and pipe mill in Dubai, chief executive officer Bharat Bhatia announced on Monday, August 31.

Indian mills raise HRC export offers by $15 per tonne on limited supply

Indian mills have increased export prices for hot-rolled coil by $15 per tonne this week, with material being offered at $515-520 per tonne, mainly to Southeast Asian destinations.

Brazilian steel industry operating at 60% capacity, Aço Brasil says

The Brazilian steel industry is operating around 60% production capacity, up from 42% in April when demand was hit the hardest by the Covid-19 pandemic, but still far from the ideal level of 80%, Instituto Aço Brasil said on Friday August 28.

US cuts Q4 quota for imports of Brazilian semi-finished steel

The United States’ government has reduced the Section 232 quota for imports of semi-finished steel products from Brazil in the fourth quarter, according to a proclamation from president Donald Trump published late on Friday August 28.

Australia scrap supply tightens amid lockdowns, fewer demolitions

Supply of steel scrap in Australia is being squeezed by regional Covid-19 lockdowns and a general decline in economic output, scrap market participants have told Fastmarkets.