May 2019

WEEKLY SCRAP WRAP: Turkey begins recovery after US tariff cut; other markets 'will follow'

The global ferrous scrap markets continued to move downward during the week ended Friday May 17, except in Turkey, but a recovery was expected for most markets following the cut to the US import tariff on Turkey-origin steel.

Flat steel import prices down in South America, follow Chinese downtrend

The import prices of flat steel in South America have largely fallen over the past week, reflecting the recent drop in Chinese prices and the higher market share taken by some exporters from the Commonwealth of Independent States (CIS) region.

Indian local billet prices down by $3 per tonne in a week

The domestic price for secondary steel billet in India has gone down by at least 200 rupees ($3) per tonne in the past week, in line with falling prices for finished long steel products such as rebar.

US PIG IRON: Deal prices stable on scrap market bottoming, rising iron ore costs

The pig iron market in the United States was stable this week, with the scrap market said to be around the bottom while the cost of iron ore continued to increase, Fastmarkets heard on Friday May 17.

HRC import offers to India down by $10 per tonne

Offer prices for hot-rolled coil (HRC) in India have dropped by at least $10 per tonne after South Korea-origin HRC was offered to Indian importers this week at $545-550 per tonne cfr Mumbai, Fastmarkets heard on Friday May 17.

Brazilian slab export prices down on fears for early US quota exhaustion

Export prices for Brazil-origin slab went down for a second consecutive week in the period ended Friday May 17, with buyers in the United States heard to be declining offers on fears that their country’s annual quota for semi-finished steel imports will be almost completely taken up by July or early August.

Export pig iron prices from southern Brazil down on reduced sales

Pig iron export prices from the south of Brazil have gone down slightly this week on lower sales to Asia, Fastmarkets heard on Friday May 17.

EUROPE STAINLESS STEEL: Prices stable despite declining demand and poor outlook

European stainless steel prices for long and flat products were stable this week despite low demand and a pessimistic outlook on the market for the remainder of 2019, sources told Fastmarkets MB on Friday May 17.

EC begins review of steel import safeguards

The European Commission (EC) has initiated a review of its steel import safeguard measures, it said in a notice published in the Official Journal of the European Union on Friday May 17.

EUROPE ALLOY STEEL SCRAP: Prices down on declining demand, scrap costs despite nickel uptick

European and UK austenitic and chrome steel alloy scrap prices decreased over the past week because of declining demand and lower ferrous scrap costs, sources told Fastmarkets on Friday May 17.