The gap between scrap and iron ore prices is damaging the competitiveness of scrap-based long steel, the International Rebar Exporters & Producers Assn (Irepas) said this week.

Seaborne coking coal prices rose on Wednesday April 15 due to active trading in China, though demand from countries such as Japan was heard to be weak amid production cuts implemented by mills.

Posco has announced that it would pay 241.42 billion Won ($218.58 million) for all the shares of Posco SS-Vina, a 1-million-tpy integrated special long steel plant that is close to commissioning in Vietnam.

Editor Vera Blei looks at the main news covered by Steel First over the past week.

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

Global billet prices have shown mixed dynamics over the past week, as an uptick in Turkish scrap prices dragged up CIS and Turkish billet prices, while Southeast Asian and UAE billet prices were down due to poor sentiment.

Turkey’s steel mills continued their deep-sea purchases for June this week with prices showing a slight decrease, while Taiwanese import and US export prices were holding stable.

Metal Bulletin reviews the major stories affecting the steel market this week.

United States president Donald Trump said on Friday August 10 that he has authorized higher tariffs on imports from Turkey, imposing a 20% duty on aluminum and 50% duty on steel.

Base metals prices on the London Metal Exchange are for the most part stronger this morning, Monday October 16. Nickel prices are little changed, while the rest are up by an average of 0.9% – led by a 1.9% gain in copper prices to $7,025 per tonne.