February 2018

SECTION 232 WRAP: US import tariffs could wreak havoc on trade flows in other markets

Millions of tonnes of material are likely to be redirected to steel markets outside of the United States if US President Donald Trump levies strict tariffs or quotas on imports after the Section 232 investigation.

Vallourec forecasts better markets in US, Brazil after Q4 earnings rise

French tube & pipe producer Vallourec has forecast favorable market conditions in the United States and Brazil in 2018, after reporting improved financial results in the fourth quarter of 2017, the company said on February 21.

Tenaris sees Q4 global earnings rise 85% amid higher sales

Steel tube & pipe producer Tenaris reported an annual rise of 85% in its earnings for the fourth quarter of 2017, amid higher global shipments.

South Korean steel pipe mills to bear the brunt of proposed US tariffs

Steel producers in South Korea will be affected significantly by hefty import curbs recommended under the United States’ Section 232 probe, although retaliatory trade measures by South Korea are unlikely, market sources told Metal Bulletin.

EUROPE SECTIONS: Southern EU tube mills raise prices again amid coil problems

Southern European tube mills have increased their prices for commodity-grade hollow steel sections again this week in an attempt to offset the pressures of higher prices and low availability in steel coil, sources told Metal Bulletin.

STEEL WEEK IN BRIEF: US recommendations on Section 232, Chinese new year holiday, Vale's Q4 output data...

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

EUROPE SECTIONS: Southern EU prices up $6-12 on Italian pressure

Prices for commodity-grade hollow sections increased by $5-10 per tonne in Southern Europe this week, with Italian tube producers continuing to ask customers to pay higher prices.

TURKEY STEEL PIPE EXPORTS: Prices rise despite weak demand

Turkish pipe export prices continued to rise in line with stronger prices for pipemaking raw materials, although demand for finished products was still sluggish, sources said on Wednesday February 14.

ASIAN MORNING BRIEF 14/02: LME base metals rise on dollar weakness; Aurubis in talks to sell flat-rolled products division; LME aluminium stocks rise 30%

The latest news and price moves to start the Asian day on Wednesday February 14.