Steel billet prices in most markets were stable or went down in the week from Monday April 16 to Friday April 20 on reduced trading activity worldwide, with the exception of China, where prices strengthened slightly amid good demand.

Three-month base metals prices on the London Metal Exchange were in a steadier tone so far on Wednesday September 12, after they closed broadly lower on Tuesday amid dollar strength and rising trade war concerns.

Looking back to the last quarter of 2017, the average accuracy of MBR forecasts published in the Steel Market Tracker was 94% (when compared to forecasts published in the September issue). Our forecasts of European flat steel prices proved to be precise once again, with European domestic CRC and HRC prices scoring 99% and 98% accuracy respectively.

Steel imports into the USA in October fell to the lowest level in six months, on the back of major declines in semi-finished material and plate products.

The price of billet in northern China’s Tangshan city has fallen below 1,800 yuan ($294) per tonne for the first time, sending it to its lowest level since at least a decade.

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

Three-month base metals prices on the London Metal Exchange were up across the board by an average of 0.6% on Tuesday November 13.

The London Metal Exchange launched four aluminium premiums contracts on Monday November 23, enabling physical market participants to hedge the premium portion of the "all-in" aluminium price.

Markets were indifferent during Wednesday November 13’s early sessions following the conclusion of the third plenary session of the Communist Party of China’s central committee a day earlier.

Chinese steelmakers have begun reining in output to minimise losses, but market participants said much steeper production cuts may be needed to stabilise prices.