Just as China and the United States started to reach a deal and trade tensions eased, providing some longed-for certainty, the novel coronavirus (2019-nCov) has again increased fear and uncertainty in the steel and feedstock markets.

China’s ferrous scrap prices moved up sharply over the past week due to tight supply, eating into the profits of mills that operate electric-arc furnaces.

The possibility of new restrictions in major steelmaking regions in China will likely give long steel prices in the country - which have been trending upward since hitting a price floor a week ago - a further boost in July.

There are reasons to believe the worst is over for a domestic steel market rattled by the Covid-19 pandemic, Nucor Corp president and chief executive officer Leon Topalian told attendees of Fastmarkets’ Steel Success Strategies Online conference on Monday October 26.

Here are five Fastmarkets stories you might have missed on Monday February 24 that are worth another look.

Currency exchange rates can make or break a steel trade, and with forex volatility in emerging markets expected to continue for the rest of the year, the Asian ferrous markets are likely to see more price fluctuations before the end of 2019.

High production costs and a lack of national protective trade measures resulted in Ezz Steel reporting a loss in the first quarter of 2019, Egypt’s biggest steel producer said on Tuesday July 9.

Japanese steel producers which use electric-arc furnaces (EAFs) are being forced into raising their purchasing prices for ferrous scrap feedstock despite there being no upward movement in their steel sales prices, sources in Japan have told Fastmarkets.

The United States’ reduction of tariffs on Turkish steel imports to 25% from 50% last week will only partially reopen the US market to Turkish mills, who should avoid raising prices if they are to successfully regain a share in that market, several sources told Fastmarkets this week.

Prices for European long steel products reached a five-year high in the second half of 2017, after a sharp rise in production costs and the return of demand from Algerian rebar importers.