May 2020

Brazilian slab export prices up on deals to Asia

Slab export prices in Brazil increased in the week to Friday May 29, with multiple deals and negotiations taking place in Asia.

Saudi Arabia to apply higher duties on steel products by June 10

Saudi Arabia plans to increase its import duties on certain steel products from June 10, Saudi Arabian market sources told Fastmarkets on Friday May 29.

JSW Steel slashes planned capex, delays projects on lockdown problems

Indian steelmaker JSW Steel will reduce its planned capital expenditure in 2020/21 to 90 billion Indian rupees ($1.19 billion), down from the previous figure of 163.4 billion rupees, and will also delay several projects, the company said in a recent results statement.

Southeast Asia billet import prices retreat on subdued China demand

Prices in Southeast Asia’s steel billet market tumbled over the past week due to weaker demand from Chinese importers, sources said.

CHINA REBAR: Domestic prices push higher on iron ore gains

China’s domestic rebar prices continued to rise slightly on Friday May 29, following the strength in the iron ore market.

Malaysia's Ann Joo, Southern Steel call off JV plan

Malaysia's Ann Joo Resources Berhad (AJRB) and Southern Steel Berhad (SSB) have mutually terminated a plan for a long steel manufacturing joint venture, citing uncertain market conditions created by the Covid-19 pandemic, the latter announced on Wednesday May 27.

CIS STEEL BILLET: Prices down on lack of demand in Asia

Export billet prices from the Commonwealth of Independent States (CIS) continued to weaken in the last week of May amid a lack of support from customers in Asia, particularly China.

ArcelorMittal Zenica restarts hot area, rolling mills to resume operations in June

ArcelorMittal has restarted operations in the hot zone at its Zenica plant in Bosnia this week, and plans to re-open the rolling mills in June, the company’s spokesperson told Fastmarkets on Thursday May 28.

TURKEY STEEL BILLET: Domestic, export prices inch down, import cost stable

Turkish domestic and export prices for steel billet have gone down slightly over the past week in line with the poor demand for finished steel, but imported billet prices have remained firm, sources said on Thursday May 28.

CHINA REBAR: Domestic prices up slightly but still under pressure

China’s domestic rebar prices edged up day on day on Thursday May 28 amid active trading following futures gains, sources said.