March 2020

Viohalco to close Greek steel subsidiaries due to coronavirus

Viohalco will close various subsidiaries of its steel business division in Greece as a result of the coronavirus, it said on Monday March 30.

Steel industry seeks clarity on Spanish order for non-essential production shutdown

The Spanish steel industry has demanded clarification from the government following a March 29 decree to shut down all non-essential production as part of the battle to contain the Covid-19 pandemic, Fastmarkets heard on Tuesday March 31.

CHINA REBAR: Price decreases slow amid release of higher PMI

China’s domestic rebar prices decreased further on Tuesday March 31 amid declining futures, though the pessimism among market participants decreased following the release of a higher manufacturing purchasing managers’ index (PMI) as well as that for the steel sector.

Long Steel Products Trade Log, March 31, 2020

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

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

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

Gerdau freezes price increase attempts in Brazil amid low demand, analysts say

Gerdau has halted price increase attempts in Brazil amid market weakness because of the Covid-19 pandemic, according to a report by local investment bank Itaú BBA from Sunday March 29.

CIS LONG STEEL: Lack of demand, falling scrap costs send long steel prices downward

Export prices for steel rebar and wire rod from the Commonwealth of Independent States (CIS) fell sharply in the week to Monday March 30 amid the lack of demand in almost all markets due to the Covid-19 pandemic, as well as the recent dramatic drop in scrap costs.

ArcelorMittal restarts long steel operations in Luxembourg

ArcelorMittal has resumed operations at its long steel manufacturing sites in Luxembourg, where it stopped operations about a week ago because of the Covid-19 pandemic, the company said on Monday March 30.

Aço Brasil expects steel use to fall by 50% in April, asks for gradual activity restart

Brazilian steel demand could fall by 50% in April compared with March after regional quarantines were enforced throughout the country to control the Covid-19 pandemic and large consumers, like automakers and capital goods manufacturers, were reducing activity, steel association Instituto Aço Brasil said on Friday March 27.

RUSSIA REBAR: Producers increase offers citing seasonal upturn in end-user demand

The rebar price in Russia’s Central Federal District around Moscow increased in the week to Monday March 30, sources told Fastmarkets, mainly driven by seasonally better demand from the construction sector.