The future of the global long steel market remains uncertain because of both the impact of the covid-19 pandemic and rising protectionism, with no recovery expected in the third quarter of this year, the International Rebar Producers & Exporters Association (Irepas) said last week.
Ferrous scrap prices in Mexico remained largely sideways this week in the steelmaking regions of Monterrey and Bajio as manufacturing activity began to resume with the easing of Covid-19-related restrictions.
Brazilian base metals producer Nexa Resources will reopen part of its zinc, lead and silver Atacocha unit in Peru following a local decree that regulated medium-sized mining companies can return from a Covid-19 quarantine, the company said on Monday June 8.
Import prices for high-carbon ferro-chrome in both Japan and South Korea continued to rise last week, reflecting elevated offer prices from Indian suppliers due to the limited availability of material and a recent surge in the price of chrome ore.
China’s export prices for vanadium pentoxide (V2O5) climbed by 8.4% last week against the backdrop of significant gains in the domestic market due to tightening supply.