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.

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.

Steel suppliers from around the world rushed to fill up the gaping hole left behind by China’s withdrawal from the export market in 2017, with domestic production cuts in key Chinese steel-producing regions cutting supply and driving up domestic prices.

The prices paid for steel scrap by mills in Turkey and Asia have moved up over the week ending Friday July 17, against a backdrop of stronger Chinese prices for iron ore and steel.

Market participants contacted by Metal Bulletin disagreed on the outlook for the European rebar and wire rod market for May 2017.

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.

Chinese steel prices have been rangebound in June despite plunging inventory levels, with trade war fears and economic jitters keeping market participants on the sidelines for most of the month.

An updated assessment on the US demographics and the challenges ahead for the housing, lumber and wood panel markets

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.