Turkish steel producers continued to hold back from deep-sea scrap bookings because of limited sales of finished long steel, sources told Fastmarkets on Wednesday April 14.

After a month-long consultation, Fastmarkets has amended the frequency for the publication of its fob China rebar index due to low liquidity in the spot market in the past year.

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

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.

Turkish deep-sea scrap import prices have rebounded once again with fresh bookings done following successful Turkish export rebar and billet sales, market participants said on Wednesday April 21.

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.

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

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

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.