The latest news and price moves to start the Asian day on Friday December 8.

China’s Laigang Yongfeng will increase its capacity by 1.87 million tpy with the addition of two continuous casters.

The reduced availability of steel billet and increased prices for ferrous scrap resulted in the global steel billet market trending mostly upward during the week ended Friday March 9, Metal Bulletin has learnt.

Metal Bulletin reviews the major stories affecting the steel market over the past week.

Metal Bulletin reviews the major stories affecting the steel market over the past week.

Demand was low last week in most global markets for steel billet, such as Turkey, Egypt and Southeast Asia, which led to cuts in prices in most regions.

Finished long steel prices have been on the rise in Europe through July and are expected to stay at high levels in August because of increased production costs.

Metal Bulletin will publish certain price assessments for long steel and billet products in Turkey on Friday August 31, 2018, instead of Thursday August 30, because of the country’s Victory Day public holiday.

India’s JSW has launched a bid to purchase steelmaker Monnet Ispat Steel, representatives of both companies confirmed to Metal Bulletin on Monday January 29.

The European long steel market is expected to weaken next month amid slack demand and downward pressure from scrap prices.