March 2020

CIS STEEL SLAB: Prices crash on lack of demand, increased competition

Steel slab export prices from the Commonwealth of Independent States (CIS) region fell sharply in the week ended Monday March 30 due to the lack of demand in almost all markets as well as increased competition both inside and outside the region.

Asian slab import prices pressured sharply lower by softening HRC prices, Covid-19 epidemic

Import prices for steel slab in Southeast Asia and East Asia tracked losses in the downstream hot-rolled coil market against the gloomy backdrop of the novel coronavirus (Covid-19) pandemic.

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.

Semi-finished Steel Products Trade Log, March 31, 2020

The latest bids, offers and deals in the global markets for steel billet, steel slab and bloom.

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.

GLOBAL BILLET WRAP: Sentiment down on Covid-19 pandemic, China importing again

Most of the world’s markets for steel billet have been affected by the negative sentiment generated by the Covid-19 pandemic and the strong decreases in prices for ferrous scrap. Buyers in China, however, continued to import material.

Algeria cuts steel output to limit Covid-19 pandemic, sources say [UPDATED]

Algerian steelmakers Algerian Qatari Steel (AQS) and El-Hadjar Iron & Steel Complex have stopped crude steel production because of the Covid-19 pandemic, market sources told Fastmarkets on Friday March 27.

AT A GLANCE: JFE Steel faces zero profit for first time in history

Major Japanese steelmaker JFE Steel is facing the prospect of recording zero profit for the year ending March 2020 for the first time in its history due to global economic tensions and rising raw materials prices, it warned on Friday March 27.

Semi-finished Steel Products Trade Log, March 30, 2020

The latest bids, offers and deals in the global markets for steel billet, steel slab and bloom.

CHINA REBAR: Rate cut sparks bearish sentiment

China domestic rebar prices fell on Monday March 30 on pessimism over the recovery of demand in the country after its central bank cut the rate on seven-day reverse repurchase agreements by 20 basis points - the largest in nearly five years.