March 2020

ArcelorMittal to idle No3 blast furnace in Brazil’s Tubarão facility

ArcelorMittal will idle the No3 blast furnace at its integrated slab and flat steel Tubarão facility, in the country’s southeastern Espírito Santo state, because of impacts from the spread of the novel coronavirus, the company said on Friday March 27.

US hot-rolled coil index nears $27/cwt despite mill output cuts

Prices for hot-rolled coil in the United States dropped sharply despite production cuts by domestic flat-rolled mills, with market participants pessimistic about the future of the industry and doubtful that the supply cut would be enough to restore the virus-dampened demand.

FOCUS: Will EU flat steel output cuts be enough to minimize a Covid-19-driven market downturn?

European flat steel producers have reduced output, and some of them have stopped operating certain equipment, in their attempts to balance supply and demand after multiple automotive producers suspended their operations because of the Covid-19 pandemic.

US cold-rolled coil, galvanized sheet prices drop after auto shutdowns

Prices for cold-rolled and galvanized steel sheet in the United States declined after automotive plants suspended production during the Covid-19 pandemic while most mills emphasized that their output continued unabated.

US domestic, import beam prices flat despite weaker demand

Prices for domestic and imported steel beams remained unchanged in the United States in March, even as demand faltered and new orders sagged.

US structural tubing price falls on fewer buys, scrap fears

Prices for structural tubing in the United States decreased on Thursday March 26 due to slower buying conditions and fears that the ferrous scrap market will decline in April trade.

US PIG IRON: Market drop limited by reduced availability

The pig iron market in the United States dropped again in the week to Friday March 27, but not as much as buyers anticipated because material availability fell considerably due to heavy sales to China.

EUROPE ALLOY STEEL SCRAP: Supply scarce but prices plunge on lower demand

The price of austenitic alloy steel scrap in Europe plunged this week because of a sharp drop in demand, despite a lack of availability, sources told Fastmarkets on Friday March 27.

INDIA IMPORT SCRAP: Market collapses on lockdown order, price drops $44

The price of ferrous scrap imported into India plummeted this week after the announcement of a 21-day lockdown across the country, sources told Fastmarkets on Friday March 27.

CIS STEEL BILLET: Prices keep sliding; demand mainly seen in China

Prices in the export billet market in the Commonwealth of Independent States continued to weaken in the week to Friday March 27 on declining scrap prices in Turkey and a lack of demand.