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.

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.

Waning demand in regular markets pushes down Russian flat steel, slab prices

Export offers on Russian flat steel products and slab fell in the week to Monday May 16 due to weaker demand in regular markets.

Brazilian slab export prices stable as market participants hesitate

Brazilian slab export prices remained unchanged this week as buyers and sellers were in wait-and-see mode following recent price cuts.

Tosyali Holding orders second slab caster for Algerian HRC mill

Tosyali Holding ordered a second slab caster from Primetals Technologies for its hot-rolled coil mill in Bethioua, Algeria, Primetals said on Wednesday May 11.

Russian steel billet price falls on lower offers, thin trading

Export prices for steel billet from Russia continued to decrease at the end of the current week when some offers and bookings done at lower prices came to light.