March 2020

ArcelorMittal to idle No3 blast furnace in Brazil’s Tubarão facility

ArcelorMittal will idle the No3 blast furnace at its integrated slab and flat steel Tubarão facility, in the country’s southeastern Espírito Santo state, because of impacts from the spread of the novel coronavirus, the company said on Friday March 27.

US hot-rolled coil index nears $27/cwt despite mill output cuts

Prices for hot-rolled coil in the United States dropped sharply despite production cuts by domestic flat-rolled mills, with market participants pessimistic about the future of the industry and doubtful that the supply cut would be enough to restore the virus-dampened demand.

FOCUS: Will EU flat steel output cuts be enough to minimize a Covid-19-driven market downturn?

European flat steel producers have reduced output, and some of them have stopped operating certain equipment, in their attempts to balance supply and demand after multiple automotive producers suspended their operations because of the Covid-19 pandemic.

US cold-rolled coil, galvanized sheet prices drop after auto shutdowns

Prices for cold-rolled and galvanized steel sheet in the United States declined after automotive plants suspended production during the Covid-19 pandemic while most mills emphasized that their output continued unabated.

EUROPE HRC: Northern European mills keep prices stable despite lower import offers

European domestic prices for hot-rolled coil have not changed despite the decline in import offers, sources told Fastmarkets on Friday March 27.

Indian HRC export prices plunge by $60 per tonne on lockdown

The price of hot-rolled coil exported from India plunged by $60 per tonne in the week ended Friday March 27, with the country going into compete lockdown on the Wednesday to try to contain the spread of the Covid-19 pandemic.

TURKEY COATED FLAT STEEL: Prices down again on failing demand

Turkish domestic prices for hot-dipped galvanized coil (HDG) and color-coated coil continued to decrease in the week to Friday March 27, with demand being very weak, sources told Fastmarkets.

U.S. Steel to idle blast furnaces, cut capital spending

U.S. Steel will take a series of “aggressive and meaningful actions,” including idling a blast furnace at its Granite City Works and extending downtime for a blast furnace at its Gary Works, in response to impacts from Covid-19.

TURKEY FLAT STEEL: Price falls continue on persistently weak demand

Flat steel prices continued to fall in Turkey during the week ended Friday March 27, with demand remaining very weak.

NLMK plans capex cut amid increased market volatility

Russia’s largest steelmaker Novolipetsk Steel (NLMK) will revise its guidance on its 2020 capex program down due to increased volatility in global markets associated with the coronavirus pandemic, the company said on Thursday March 26.