Turkish steel producers extended their silence in the deep-sea scrap import markets amid weakening demand for finished long steel products, sources told Fastmarkets on Thursday June 3.

Fewer Chinese steel mills are planning to stock up on steel scrap before Chinese New Year, and those that do will be doing so at lower volumes than in previous years, market sources told Fastmarkets this week

Turkish deep-sea scrap import prices edged up on Tuesday after firm offers from the Baltic Sea region, although many mills were looking to achieve further rebar sales in the export and domestic markets before purchasing more scrap, sources said on March 30.

United Arab Emirates producers Emirates Steel and Conares Steel have increased their rebar prices for February production with effect from Wednesday January 13.

The Brazilian construction industry chamber, CBIC, has raised its forecast for the sector’s gross domestic product (GDP) in 2022 to a 3.5% increase, from the previous 2.5% guidance, due to federal programs and renovations expected for the second half of the year, it said on Monday July 25

Egypt's use of rebar was almost halved in January 2021, with the country consuming just 308,000 tonnes of the construction material - a 46.53% year on year drop from January 2019's 576,000 tonnes.

After six years of prosperity, China’s steel industry has entered a new era with excessive supply and declining demand, and where it is overly financialized, according to Han Weidong, vice president of leading Chinese steel pipe maker Youfa Group

Turkish steel mills continued to book deep-sea scrap for June shipment, supported by strong export demand for rebar, market participants told Fastmarkets on Thursday April 22.

Turkish steel producers started to look for scrap cargoes at the end of this week after the latest downturn in prices and a revival of demand for long steel products in Southeast Asia, market sources said on Friday March 26.

Fastmarkets proposes to reduce the frequency of the publication of its fob China rebar index due to low spot market liquidity in the past year.