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.

History shows that crises such as the Wuhan coronavirus have a relatively short-lived impact on global financial markets. Commodities such as soybeans, metals and paper have longer-term issues to worry about.

Good morning from Metal Bulletin’s office in Singapore as we bring you the latest news and pricing stories on Tuesday April 3.

The Brazilian long steel market continues to wait for the seasonal rebound in the local construction industry - unlike flat steel, which has seen recovering demand from the automotive and white goods sectors.

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

US steel exports have plunged since the Section 232 tariffs were implemented against imports from Canada, Mexico and the European Union, according to a review of Commerce Department figures by Fastmarkets AMM.

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

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.

Steel imports are poised to halt a five-month slide and jump 10.7% from September to October thanks to gains in line pipe, hot-dipped galvanized products and hot-rolled coil.

We were wary that the US Federal Open Market Committee (FOMC) statement could give the dollar a boost and that it could become a headwind for metals prices and that seems to have been the case. The base metals prices on the London Metal Exchange are down across the board by an average of 1.1% this morning, Thursday September 21.