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

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.

Domestic rebar and wire rod prices in Northern Europe have increased €5 ($7) per tonne on the back of recent scrap price hikes, market sources told Metal Bulletin sister title Steel First on Wednesday July 31.

Metal Bulletin’s Turkey domestic rebar and Turkey domestic wire rod price assessments, which have been changed from $ per tonne to Turkish lira per tonne, will include 18% VAT.

After the Chinese Lunar New Year holiday, the seaborne iron ore market will be affected by the macro-economic environment, seasonally low supplies and ongoing or additional steel production cuts in northern China, sources told Fastmarkets this week.

Members of the China Iron & Steel Association (Cisa) cut their crude steel, finished steel and hot metal production rates in the first 10 days of August compared with the preceding 11 days, according to data published by the association on Friday August 13.

With long steel prices in Europe reaching historically high levels, construction activity is slowing in some regions due to reduced supplies and delays, with some market sources fearing a decline in industrial activity long term.

After the Chinese Lunar New Year holiday, the seaborne iron ore market will be affected by the macro-economic environment, seasonally low supplies and ongoing or additional steel production cuts in northern China, sources told Fastmarkets this week. Positive monetary policy boost Market sentiment has been particularly sensitive, in the short term, to official Chinese government […]

Turkish steel mills resumed their deep-sea scrap purchases for June shipments with another sharp increase in prices, market participants told Fastmarkets on Thursday May 5.

Market chatter about China possibly imposing new export taxes for steel as part of commodity price cooling measures has been rampant in the past week, causing traders and market participants to re-think their trading strategies, and overseas buyers to consider a potential supply shortfall.