Price trends in the global billet market diverged in the week ended Friday January 12 because of a number of factors.

The novel coronavirus (2019-nCoV) that originated in China but has since spread to more than 40 countries poses a serious threat to the Chinese nickel market, with demand, and therefore prices, said to be at considerable risk in the short term.

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

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.

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.

Iron ore producer Earthstone Group is looking to build steel plants in Indonesia and Morocco, assistant vice president Joshina Kapoor has said.

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.

Beijing will begin implementing measures later this month to ensure blue skies ahead of a military parade in early September.

First-half net profit at Shagang, China’s largest privately-owned steelmaker, increased fourfold year-on-year to 34.96 million yuan ($5.67 million), the mill said in its biannual report on Tuesday August 26.