Some steel product prices in the United States have risen in response to the looming introduction of 25% tariffs on imports, while sentiment in steel markets outside the US has been dampened by fears of potential shifts in trade flows.

Gerdau has entered into a deal with Kinross Brasil Mineração to sell its two hydroelectric plants in Brazil’s mid-western Goiás state for 835 million Reais ($255 million), as a further step in its strategy to focus on profitable steel assets, it said late on Wednesday February 14.

Metal Bulletin proposes to re-align its Brazilian domestic steel prices to reflect market practices, making changes to the calculation of its monthly assessments.

The latest news and price moves to start the Asian day on Tuesday June 12.

The downtrend in global billet prices continued over the past week as buyers looked out for bargains amid poor demand for downstream long steel products.

The Shanghai Futures Exchange will see first delivery of its hot rolled coil futures contract on July 15, Steel First has learned.

Steel billet prices fell in China and other markets last week, and buyers are refraining from closing deals as they wait for a definitive direction.

Anahita Gilan Steel in northern Iran will commission its 320,000-tpy rolling mill within the next two months, according to the project authorities.

As competition in the global steel markets remains fierce, Metal Bulletin provides an update on the new, progressing and closed trade cases from around the world in November 2017.

Prices for billet have started to stabilise in some regional markets around the world following a four-week rally fuelled by rising import scrap prices in Turkey and firm demand for long steel in China.