The Turkish long steel export market has remained sluggish because of the uncertainty created by the Section 232 tariffs imposed by the United States, and prices have started to fall, sources said on Thursday March 22.

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.

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

Iran’s imports of long products have fallen dramatically, raising concerns about the effects on inventory levels in the future.

The new round of sanctions imposed by the United States on November 5 is expected to cut Iranian steel exports further, gradually leading to lower Iranian steel output, market sources believe.

Liepajas Metalurgs plans to resume production at the end November, a spokeswoman for the Latvian mill’s new owner, Ukrainian KVV Group, told Steel First on Friday October 3.

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.

Prices for steel scrap imported into Bangladesh in containers have gone down again over the past week, while those for bulk cargoes were steadier, market participants told Fastmarkets on Thursday October 8.

Good morning from Fastmarkets MB’s offices in Asia as we bring you the latest news and pricing stories on Wednesday November 28.

Severstal, Russia’s second-largest steelmaker, has sold 5,000 tonnes of billet to Saudi Arabia, two sources have told Steel First.