Billet producers in the Gulf Cooperation Council (GCC) countries have become more active in export markets this year amid a slowdown of construction activity in the region, Fastmarkets has learnt.

Japan’s manufacturing purchasing managers’ index (PMI) for May surprised to the upside at 52.8, having been expected to remain at April’s level of 52.5, while China’s Caixin PMI came in at 51.1, which was unchanged from April’s reading. Taking into account yesterday’s better-than-expected reading on China’s official PMI, economic data may be picking up again, which could bode well for the metals.

Long steel imports into Brazil increased by 36.4% in 2012, according to figures disclosed by the country’s foreign trade ministry.

Following a review of regional transaction data, Metal Bulletin is proposing the following changes to the base currencies for the following steel prices.

The latest news and price moves to start the Asian day on Friday March 16.

Three-month base metals prices on the London Metal Exchange were down across the board by an average of 0.7% during morning trading on Friday October 26.

The latest news and price moves to start the Asian day on Tuesday September 25.

Gerdau Long Steel North America plans to resume operations at its Sayreville, New Jersey, steel mill next week. The mill had been left without power in the wake of Hurricane Sandy.

Net profit at Egypt's El Ezz Dekheila Steel (EZDK) rose 16% in the second quarter of 2012 as costs were reduced to combat a fall in sales of almost half those of last year.

Here are five Fastmarkets MB stories you might have missed on Thursday March 28 that are worth another look.