Steel billet prices fell in almost all regions last week, following the downtrend in scrap and a weakness in Chinese domestic market.

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

The latest news and price moves to start the Asian day on Wednesday August 8.

Brazil-based steel producer Gerdau has made further moves this month in its asset divestment programme, announcing the sale of its Chilean operations to local family-owned groups Matco and Ingeniaría e Inversiones for $154 million.

Sentiment in most of the global billet markets was negative in the week ended Friday August 10 amid unfavorable market conditions.

China’s winter steel production cuts are expected to provide some much-needed support to Asian steel prices, according to market sources.

China has threatened to deepen its ongoing trade war with the United States by implementing similar trade measures on the latter’s products after the Office of the US Trade Representative proposed an additional 25% duty on a list of Chinese goods.

The latest news and price moves to start the Asian day on Friday February 2.

Prices in the global steel billet market were mostly trending upward last week amid enlivened demand at some destinations as well as increased scrap prices, Metal Bulletin has learnt.

The latest news and price moves to start the Asian day on Friday January 19.