South Korea is working to ease the steel import quota limits imposed by the United States following its Section 232 investigations, the Korea Iron & Steel Association (Kisa) said on Monday March 26.

Physical iron ore prices improved on Tuesday March 12 following advances in China’s futures and steel markets, as well as further uncertainty over Vale’s supplies from Brazil.

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

Scrap prices in the global markets have continued to increase his week, amid strong demand for material in the major importing countries and upward momentum in the US export markets.

China’s daily crude steel output finally started declining in late June, following continual drops in steel prices throughout the month.

Prices in most billet export markets were heading down in the week to Friday October 27, amid weakening demand for both semi-finished and finished steel products.

Scrap prices in the world’s major markets except the United States continued to strengthen in the week from Monday January 8 to Friday January 12 amid low supplies of material.

Prices for steel billet rose again in most global locations this week, amid a new round of increases in the costs of raw materials, but market participants reported weak buying activity and fears that prices could be close to a peak.

Investment in rail infrastructure and a reduction in bureaucracy are required to provide a platform for growth in Turkish steel exports, according to Aysen Ustunay, export manager at MMK Metalurji.

Most global steel billet prices fell in the week ended Friday January 26, amid low trading and weak market sentiment.