May 2019

Indian local billet prices down by $3 per tonne in a week

The domestic price for secondary steel billet in India has gone down by at least 200 rupees ($3) per tonne in the past week, in line with falling prices for finished long steel products such as rebar.

EC begins review of steel import safeguards

The European Commission (EC) has initiated a review of its steel import safeguard measures, it said in a notice published in the Official Journal of the European Union on Friday May 17.

UK SCRAP: Light iron market tracks weaker May settlements

The UK’s light iron market has dropped over the week ending May 17, losing another £5 ($6.41) per tonne following a £10 loss due to weaker European export markets into Turkey since late April, sources told Fastmarkets.

British Steel secures short-term funding to continue operating

UK long steel maker British Steel has secured short-term funding from its lenders that will enable it to continue “operations as normal,” the company said on Friday May 17.

POLAND REBAR: Domestic prices supported by solid demand for construction

Domestic prices for rebar in Poland have been largely stable over the past week despite the global decline in ferrous scrap prices, sources told Fastmarkets on Friday May 17.

CHINA REBAR: Trading thin after early-week buying spree

China’s rebar prices rose further on Friday May 17 on gains in the futures market, but trading activity has fallen to moderate rates with most buyers having procured enough materials earlier in the week.

Long Steel Products Trade Log, May 17, 2019

The latest bids, offers and deals in the global markets for rebar, wire rod, steel beams and other long steel products.

China on track to exceed finished steel production of 1 bln tpy in 2019

China is on track to surpass one billion tonnes per year of finished steel production in 2019, data from the National Bureau of Statistics (NBS) released on Wednesday May 15 showed

US halves import duties on Turkish steel

The United States has lowered its tariffs on steel imports from Turkey to 25%, from the previous 50%, effective Friday May 17.

EGYPT STEEL BILLET, REBAR: Import billet prices narrow up on deal; higher offers not accepted

Steel billet prices for imports into Egypt narrowed higher this week on a deal heard concluded at $445 per tonne cfr, with several higher offers at $450-455 per tonne cfr not accepted by the market.