June 2020

Chinese demand pushes up SE Asian billet prices

Prices in Southeast Asia’s steel billet market climbed over the past week due to robust demand from Chinese importers.

FOCUS: Billet import prices in China hit $400 on BF restrictions

Import prices of steel billet in China have risen to the $400-per-tonne-cfr mark this week on steady demand amid a domestic market strengthened by restrictions imposed on blast furnaces in the country’s steelmaking hub of Tangshan.

US steel imports drop sharply in May

Steel imports to the United States declined sharply in May due to fewer shipments of semi-finished steel despite double-digit growth in certain finished steel products.

Global steel demand to drop 6% in 2020 due to Covid-19, Worldsteel says

Global demand for steel will decrease by 6.40% year-on-year in 2020 due to the effects of Covid-19 pandemic lockdown measures, the World Steel Association (Worldsteel) said on Thursday June 4.

TURKEY STEEL BILLET: Prices increase on stronger demand

Turkish steel billet prices increased over the past week due to strengthening demand and rising imported scrap values, sources said on Thursday June 4.

EGYPT STEEL BILLET, REBAR: Domestic rebar market 'dead' but higher offers push up billet import prices

The construction ban in Egypt killed off activity in the domestic rebar market in the week to Thursday June 4, but steel billet import prices increased because of higher offers from the CIS, sources told Fastmarkets.

EU STEELMAKER CLOSURES 04/06: Voestalpine, ISD Dunaferr, British Steel to stop production this summer

Austria’s Voestalpine, Hungary’s ISD Dunaferr and the UK’s British Steel will either suspend their operations or close production units for maintenance this year, the companies said in the week ended Thursday June 4.

CHINA REBAR: Domestic prices edge up further but demand softens

China’s domestic rebar market maintained its upward trend on Thursday June 4 on early gains experienced by rebar futures, though high temperatures in several regions weakened demand.

Iranian export billet price strengthens on fresh sales

Iranian export billet prices narrowed upward in the week to Wednesday June 3 with more mills managing to achieve higher sales prices.

CHINA REBAR: Domestic prices rise again on bullish sentiment

China’s domestic rebar prices strengthened further on Wednesday June 3 on market participants’ positive outlook for demand over the next few months.