Two more steel producers in Italy have stopped operations following the recent nationwide extension of the country’s coronavirus-related quarantine area, and more stoppages were expected, sources told Fastmarkets on Thursday March 12.

A 10-week decline in low-grade manganese ore prices stalled on Friday June 21 and Chinese port ore prices have been rebounding dramatically from 2019 lows reached in early June.

The rebar and billet markets in Turkey are gaining strength after a long period of weakness, market participants said on Thursday 14 February.

The fate of the steel world continues to hang in the balance: Numerous scrapyards have stopped operations, blast furnaces around the world have stopped and aggressive offers by traders for Russian and Indian supply have pushed prices down further.

Gulf Co-operation Council (GCC) countries are finding common ground over the threat from steel being redirected as a result of the United States decision to impose tariffs on imports.

Recent unfavorable developments in the Turkish economy - in the steel market in particular - caused by the aggravation of diplomatic relationships with the US has put pressure on CIS steel producers, both in terms of export volumes and prices.

Rebar exporters in Turkey are expecting the anti-dumping investigation against imports of the product into the USA to lead to small duties, Celsa’s international commercial director, Kim Marti said on Tuesday April 1 at the International Rebar Exporters and Producers Assn (Irepas) meeting.

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

China’s ferrous scrap market plummeted over the past three weeks due to destocking pressure on sellers coupled with low procurement rates among mills, which sent prices to their lowest in close to two years.

Finished long steel prices in Europe have continued to go up through August, supported by reduced supplies during the summer holidays, as well as by costlier raw materials.