January 2020

TURKEY STEEL BILLET: Falling scrap values drag down prices

Steel billet prices in the Turkish market have continued to slide in line with falling imported scrap values, sources said on Thursday January 30.

EGYPT STEEL BILLET, REBAR: Import billet prices fall, demand weak

Prices for steel billet imported into Egypt dropped again in the week ending Thursday January 30 amid weak demand, sources told Fastmarkets.

US sanctions continue to weigh on Iranian billet, slab markets

Iranian export steel billet and slab markets were slow in the week to Thursday January 30, with Chinese market participants still away for Lunar New Year and US sanctions undermining buying appetite.

Southeast Asian billet import price dips amid declining scrap costs, Wuhan virus

Prices in Southeast Asia’s steel billet market fell during the week to Thursday January 30 with market participants adopting a bearish outlook amid weakening ferrous scrap prices and uncertainty surrounding the coronavirus outbreak in Wuhan City, China.

HOTTER ON METALS: Coronavirus adds to global growth challenges

Trade disputes and geopolitical uncertainties had already made the prospects for global economic growth uncertain. A coronavirus has now added to the challenges facing financial markets.

IN CASE YOU MISSED IT: 5 key stories from January 29

Here are five Fastmarkets MB stories you might have missed on Wednesday January 29 that are worth another look.

FOCUS: Wuhan virus likely to dent Q2 demand for steel, iron ore in Asia

Sentiment in the seaborne iron ore and Asian steel markets have deteriorated amid a rapid spread of the 2019-nCoV - or Wuhan novel coronavirus - in China, which appears to have intensified in the last week.

Higher costs, reduced competition likely to support Southeast Asian plate prices, Japanese mill says

Steel plate prices in Southeast Asia are likely to continue on an upward trajectory due to higher shipping costs and reduced price competition among steelmakers, a source at a leading Japanese mill told Fastmarkets.

IN CASE YOU MISSED IT: 5 key stories from January 28

Here are five Fastmarkets MB stories you might have missed on Tuesday January 28 that are worth another look.

US steel product imports mixed in December

The United States' steel imports declined by nearly 18% in December compared with the same month in 2018 but rose by 0.5% sequentially.