Prices in most locations moved up this week, with Chinese mills out of the market due to the weeklong Lunar New Year and continued strong scrap prices.

State-owned Saudi Arabian steel producer Hadeed Sabic plans to investment in a new product, although the details have yet to be announced, company president Mohammed Al-Zahrani said on Tuesday December 11.

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

Prices decreased in most markets last week, with demand for rebar remaining subdued in many regions, but a recovery in prices for semi-finished material in China led to improved sentiment in some countries later in the week.

Here are five Fastmarkets MB stories you might have missed on Wednesday August 14 that are worth another look.

The EU market for finished long steel products has been looking up recently amid expectations that Algerian buyers will return to active trading.

Global steel billet prices continued to climb this week on strong demand from buyers, who are hoping to secure volumes before prices move up further.

Global scrap prices have declined in key regions from the levels they showed a week ago, with the weakening Turkish lira damping sentiment in what is the world’s largest scrap import market.

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

In the face of increasingly volatile markets in Asia, it is becoming more and more crucial for participants to engage in hedging to cut their risks of incurring losses, industry sources told Metal Bulletin.