July 2018

STEEL WEEK IN BRIEF: Preliminary EU safeguarding measures, weak Turkish and Asian scrap prices, alleged anti-trust in Japan…

Metal Bulletin reviews the major stories that have affected the steel market over the past week.

Brazilian pig iron producers inactive in export market

Brazilian pig iron producers continued to hold back from the export markets this week because of continued strong local demand and full order books at least until late September.

US PIG IRON: Buyers, suppliers fail to agree price

The pig iron market in the United States was frozen this week with buyers and sellers failing in their attempts to negotiate a price.

CIS PIG IRON: Market frozen on scrap weakness, discord in US

The Commonwealth of Independent States' (CIS') pig iron export market is at a standstill due to a weak ferrous scrap market and continued confrontation between suppliers and consumers in the United States, a key outlet for the product.

Brazilian pig iron export volumes down 35% in June

Pig iron export volumes from Brazil dropped by 35.22% year-on-year in June because of reduced demand from Mexico, according to figures released by the country’s foreign trade ministry, MDIC, earlier this month.

NLMK Q2 semi-finished steel sales up 31%, finished steel down 7%

Semi-finished steel sales at Russia’s largest steelmaker, Novolipetsk Steel (NLMK), rose by 31% year-on-year in the second quarter of 2018 to 1.65 million tonnes.

Venezuela’s HBI exports limited, industry continues to struggle

Venezuela, formerly the world's largest hot-briquetted iron (HBI) exporter, currently has only limited volumes available for export due to a lack of pellets and continuing technical problems, sources said this week.

US PIG IRON: Market static as offers, bids diverge

Pig iron buyers in the United States did not fulfill expectations and resume their booking activities this week, because bids and offers in the market diverged.

Brazil pig iron exports steady on low demand, reduced supply

The export market for pig iron from Brazil was static this week because buyers showed no interest in purchasing while producers were fully booked until the end of September, Metal Bulletin heard on Friday July 13.