Steel billet prices moved up last week in most regional markets despite a general weakness in demand for long steel products, with the biggest gains seen in China and Southeast Asia.

Fastmarkets proposes to discontinue its weekly export price assessment for rebar in Latin America, which is made on a $ per tonne fob main port basis.

China’s spot steel prices were mixed on Wednesday May 30 with prices of some steel products rebounding while those of others fell.

Iraqi steel producer Erbil Steel has postponed expansion plans because of insufficient scrap in the northern part of the country, according to the Arab Iron & Steel Union (AISU).

The temporary exemption granted to EU countries from steel import tariffs in the United States is a “cause for optimism” but action should be taken to avoid a glut of imports from countries which will be affected by the measures, industry group UK Steel said on Thursday March 22.

The upcoming Lunar New Year period is expected to dampen demand for steel in Asia, although the extent to which it does so continues to depend on the ongoing winter production cuts in China that are scheduled to last until mid-March this year.

Bulk scrap purchasing in the Bangladesh import market is under pressure, largely due to inflated inventories of material and high offer prices, market sources told Fastmarkets on January 10.

Indian steel product export prices could fall if high import tariffs are applied to steel from countries such as South Korea, Turkey and Japan by the United States, sources have told Metal Bulletin.

Prices for Asia-origin steel commodities could remain elevated for April- and May-shipment cargoes, although this will depend on further policy changes in China and the United States, market sources have told Metal Bulletin.

Global scrap prices pushed up in the working week from Monday June 5 to Friday June 9, except on the US East Coast.