Price trends in the global steel billet market were mixed in the week ended Friday February 2 with pricing moving in different directions in the various markets.

Demand from Turkish steel mills and tightening supply combined to push global scrap prices upward during the working week from Monday December 4 to Friday December 8.

The latest news and price moves to start the Asian day on Tuesday March 13.

Hyundai Steel’s planned merger with sister company Hyundai Hysco would be “credit positive” for the company as it would strengthen its business and financial profile, ratings agency Moody’s said.

Egypt, the largest producer of direct-reduced iron (DRI) in Northern Africa, will increase its output further in 2019, Fastmarkets heard at the North Africa Iron & Steel Summit in Cairo on April 16-17.

Lower oil prices and a weaker euro could sustain activity in the EU long steel market at levels better than those forecast, the International Rebar Producers & Exporters Assn (Irepas) has said.

Global steel scrap prices could "plummet" in the coming months due to sluggish export demand and pressure from lower-priced iron ore and coke, according to two World Steel Dynamics (WSD) analysts.

Prices for CIS-origin billet have softened over the past week as customers showed a preference for low-priced Chinese material over Russian and Ukrainian products, sources have told Steel First.

Good morning from Metal Bulletin’s office in Shanghai as we bring you the latest news and pricing stories on Friday March 23.

Global ferrous scrap prices continued to tumble in the week from Monday January 22 to Friday January 26, amid poor demand for Turkish rebar and weaker sentiment among traders.