The latest news and price moves to start the Asian day on Friday June 22.

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.

Chinese steel prices have risen this year due to capacity cuts and strong demand from major downstream industries.

Turkish import scrap prices have risen this week, while those for Taiwanese import material plunged, and Indian import scrap held largely steady amid general expectation of a rebound in demand for the steelmaking raw material.

Spot demand for imported ferrous scrap in key Asian market Vietnam slowed in the week to Friday June 19 after buyers noted a dip in prices from the middle of the week.

China’s daily crude steel production extended its rebound in mid-October and reached 1.999 million tonnes, the highest since late May.

The Thai Cabinet has approved a draft bill this week that will allow the Industry Ministry to shut down mills in the country that produce substandard steel.

The latest news and price moves to start the Asian day on Wednesday November 14.

Global billet prices moved in different directions during the week ended Friday May 4, with limited supply and improved demand pushing prices up for Southeast Asia’s imports, China’s domestic market and Turkey’s exports.

Fastmarkets has discontinued its weekly price assessments for long and flat steel products in southern China.