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

Metal Bulletin reviews the major stories that have affected the steel market over the past week.

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

Fastmarkets is proposing a discontinuance of its weekly price assessments for long and flat steel products in southern China.

The Chinese domestic price for silico-manganese has drifted downward significantly in recent assessments because some alloy smelters reduced their offer prices to attract buying interest and generate cash amid the sluggish demand circumstances created by the outbreak of the 2019-nCoV coronavirus, market participants have told Fastmarkets.

Scrap prices in the global markets continued to increase during the working week from Monday August 14 to Friday August 18, on strong demand in the major markets and tight supply.

Steel demand in the Middle East will keep growing in 2018 and beyond, but the region needs trade protection measures to support local producers, according to UAE-based flat steel re-roller and coater Al Ghurair Iron & Steel (AGIS) chief executive officer Abu Bucker Husain.

Anshan Steel's investment in Steel Development Co (SDC) will not be the first time a Chinese steel company has taken a stake in a US steelmaker. The share it buys will not even be the largest.

Steel billet prices fell in most markets this week, as demand remained limited and sellers from China and other regions were forced to reduce their offers.

Metal Bulletin reviews the major stories that have affected the steel market over the past week.