Global billet prices for steel slab have mostly risen this week, as suppliers in the CIS region managed to push through an increase and concluded several deals at higher prices.

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.

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.

The latest news and price moves to start the Asian day on Tuesday May 15.

China’s crude steel output increased in early August due to higher prices of finished products.

China’s crude steel output increased in early August due to higher prices of finished products.

Long steel imports into Brazil increased by 33.8% year-on-year in January, according to figures published by the country’s foreign trade ministry.

Steel billet prices in the global markets went down slightly or remained stable, except in Southeast Asia, during the working week from Monday February 2 to Friday February 9.

The latest news and price moves to start the Asian day on Wednesday August 22.