Iran’s ministry of industries, mines and trade imposed new export tariffs on various products including steelmaking raw materials and steel products early this week, Fastmarkets learnt on Tuesday April 12.

A wide variety of factors have contributed to “a really shaky period” in international trade, delegates heard at the 86th meeting of Irepas, the International Rebar Producers & Exporters Association, held in Istanbul, Turkey, on May 29-31, 2022

Growing uncertainty about end-user demand and input costs through 2022 has driven a change in consumer habits in Europe’s aluminium and steel markets, with traders foreseeing a continuation of hand-to-mouth buying going into 2023

Rebar sales to the Chilean construction industry hit their lowest monthly level for 2012 in September at 42,710 tonnes, according to figures from the country’s construction chamber, CCHC.

Rebar futures on the Shanghai Futures Exchange dropped to an historical low on Thursday May 15, following the release of poor power consumption data.

China’s spot rebar prices fell again on Monday December 24, due to weak billet prices and rising inventories.

In a deal that could prove to be transformative for the rebar industry in the United States, Gerdau has agreed to sell some of its rebar production units, including mills, to Commercial Metals Co (CMC) for $600 million.

South Korea’s Fair Trade Commission has fined six rebar producers 119.4 billion won ($105.7 million) for price rigging.

Turkey exported 6.48 million tonnes of rebar with a value of $4.14 billion in the first nine months of the year, according to customs data.

Exporters of steel scrap have continued to explore alternative destination markets for sales of deep-sea scrap cargoes because of the slump in prices in Turkey, sources said in the week ended Friday June 24