May 2022

UAE rebar, billet buying very slow on price uncertainty

The steel rebar and billet markets in the United Arab Emirates were both very slow in the week ended Tuesday May 17 because market participants were waiting for new prices to be announced, sources told Fastmarkets.

Ukraine-Russia war to 'drag on China's economic development'

The ongoing Ukraine-Russia war will be a long-term drag on China's economic and political developments until it is resolved, retired diplomat and think-tank chief Bilahari Kausikan said at the Singapore International Ferrous Week opening ceremony on Tuesday May 17.

China iron ore prices to depend on lockdown timings, steel exports likely to surge - Astris

The future price trends of iron ore will depend on the timings of China's Covid-19 controls, while Chinese steel exports may surge in 2022 to fulfil a deficit caused by the loss of Black Sea-origin steel supply, Astris Advisory's commodity strategist Ian Roper said at Singapore International Ferrous Week on Tuesday May 17.

China's domestic rebar prices slide on demand drop

China’s domestic rebar prices narrowed downward slightly on Tuesday May 17 amid a softening of demand caused by early-hour futures losses.

China's domestic rebar prices edge up after central bank lowers mortgage rate

Some sellers in China’s domestic rebar market raised their prices on Monday May 16 after the People’s Bank of China lowered the minimum mortgage interest rate for some home buyers.

Ukrainian steelmakers welcome US decision to suspend 232 tariffs, call for cancellation of other restrictions

Ukrainian steelmakers, particularly Metinvest and Interpipe, have welcomed the decision by the United States to suspend Section 232 tariffs of 25% against imports of steel from the country for one year.

Ukraine's Metinvest loses one fourth of steelmaking in Q1 due to war

A summary of operational results for Ukrainian steelmaker Metinvest for the first quarter of 2022.

Wire rod prices from Russia drop amid limited sales opportunities

Export wire rod prices from Russia continued to fall in the week ended Monday May 16 amid limited sales opportunities, sources told Fastmarkets.

Decarbonization a key strategic objective, Emirates Steel Arkan CEO says

Decarbonization is a key strategic objective of Emirates Steel Arkan, the biggest steel producing group in the United Arab Emirates, according to group chief executive officer Saeed Ghumran Al Remeithi.

Chinese mills' finished steel output drops more than 5% in early May, Cisa says

Member mills of the China Iron & Steel Association (Cisa) lowered their production rates for finished steel by 5.73% in early May compared with the preceding 10 days, according to data published by the association on Thursday May 12.