Market participants in Asia are anticipating a surge in deliveries of lower-priced United States-origin ferrous scrap and Turkish rebar in the coming weeks as Turkey's economic troubles continue.

Rebar prices in Europe have been under downward pressure from subdued demand and the situation is unlikely to change for better anytime soon.

Metal Bulletin proposes changes to the specifications of two India-origin steel products for future market price assessments.

The fob China rebar Pricing Notice published earlier today had the incorrect size specification and payment terms.

The rate at which the European Commission’s import safeguard quotas for wire rod and rebar are filling up is still accelerating, and may give domestic long steel producers an opportunity to raise their prices in the next few weeks despite lukewarm demand.

Spot prices for imported ferrous scrap into the key Vietnamese market slipped in the week to Friday October 29, on weakening sentiment caused by sharp losses in the ferrous complex in China, sources told Fastmarkets.

Saudi Arabia’s biggest steel producer, Hadeed Sabic, has increased its domestic rebar price to 2,200 riyals ($586) per tonne ex-works, Metal Bulletin has learned.

Steelmakers have been using some of their windfall profits to acquire downstream businesses at a higher-than-average rate, and industry participants believe this trend will continue through 2022

Seaborne iron ore prices are seeing narrower 62-65% Fe spreads amid stronger preference for mid-grade fines and stable demand from buyers, sources told Fastmarkets on Wednesday June 8

Metal Bulletin is proposing to change the specifications of its weekly price assessments for Turkish domestic rebar and wire rod from $ per tonne to Turkish lira per tonne.