August 2020

AT A GLANCE: Gerdau Q2 sales down in all regions due to Covid-19

A summary of Brazilian steelmaker Gerdau’s financial results in the second quarter of 2020, as stated in its earnings report on Wednesday August 5.

SE Asia billet market in stand-off amid China buying, fresh Manila lockdown

Activity in the Southeast Asia market for imports of steel billet has reduced over the past week with sellers buoyed by strong buying in China while Philippine buyers were put off by new lockdown restrictions across the Philippines, market participants said.

CHINA REBAR: Prices fall after typhoon saps demand

China’s domestic rebar prices dropped slightly on Wednesday August 5 due to adverse weather weakening demand.

Bangladesh’s SS Steel boosts capacity with purchase of Saleh Steel

Bangladeshi steelmaker SS Steel has purchased competitor producer Saleh Steel in a deal worth 247 million taka ($2.86 million), according to a filing to the Dhaka Stock Exchange.

GULF STEEL BILLET, REBAR: Prices up; market returns from Eid al-Adha

The prices for steel rebar and billet in the United Arab Emirates increased this week, while market participants were just returning from the Eid Al-Adha holiday, which was celebrated at the end of last week, market sources said on Tuesday August 4.

CIS STEEL SLAB: Market quiet; sellers eyeing higher prices

CIS export slab market was largely quiet in the week to Monday August 3 amid limited availability of material in the region as well as religious holidays in some of the customers’ markets.

FOCUS: Chinese hunger for billet 'set to persist'

Chinese demand for imported billet increased sharply in the first six months of 2020 due to higher domestic prices in China in comparison with those beyond its shores, and market participants expect this situation to persist in the second half.

CHINA REBAR: Domestic market loses upward momentum on weaker demand

China’s domestic prices for rebar stopped rising on Tuesday August 4 amid lower trading activity, but participants’ outlook for the market remains optimistic.

NLMK to ramp up premium slab production

NLMK, Russia’s largest steelmaker, is currently starting-up its fully reconstructed continuous casting machine (CCM-9) located at the company's Lipetsk site intended to produce premium steel slab, it said on August 3.

CIS STEEL BILLET: Higher offers drive prices further upwards

Export billet prices from the Commonwealth of Independent States (CIS) region continued to increase in early August in line with higher offers from mills, which were supported by rising import scrap costs globally.