World Steel News 20240520

Metal Expert
World Steel News > Issue 97 (3608), Monday, May 20, 2024
Latest Contracts
Steel Futures
Ferrous futures increase slightly again as China announces more stimuli
MENA
More ex-US scrap sales to Turkiye disclosed
More sales registered in Turkish billet market
Turkish HRC segment in limbo in mid-May
Europe absorbs most of Turkish HR exports in March
BMS Wire completes foreign trade company establishment
Turkiye’s residential sales keep sliding
IGISCO close to launching pellet production in Bahabad
UAE and Oman commence preparatory works for $3 billion railway project
Asia
Asian traders purchase Indonesian billet at lower levels
Indian market assesses impact of BIS renewal for Vietnamese HRC
Iron ore rises on government property sector incentives
Chinese sellers hike HRC offers to Vietnam
Australian coking coal falls on sluggish buying
Chinese wire rod export prices drop, might increase next week
Vietnamese import scrap market weakens
www.metalexpert.com © 2024 Metal Expert, World Steel News, May 20, 2024 1
CIS Green Steel Knowledge Base
ETS development
Export billet prices from Black Sea basin soften Low-price voluntary CO2 market
to scale up ahead of consolidation
Russian HRC export prices strengthen in new sales (13.09.2022)
EU ETS reform slips on MEPs’
divergent ambitions (14.06.2022)
Yakovlevsky GOK increases sinter ore mining capacity
EU carbon market needs more
transparency, carbon allowances
In brief: Welded tube imports in Ukraine rise in April need optimal price (07.06.2022)
Standalone British ETS affects
steel industry as carbon prices
Europe hold world record (10.05.2022)
Poland keeps insisting on carbon
market adjustments (03.05.2022)
Italian HRC prices remain under pressure from poor buying
EU ETS benchmarking becomes
powerful tool for emissions cuts
Spain’s rebar export prices stabilise, wire rod goes up (26.04.2022)
ETS outside EU yet to spur
Italian wire rod producers still struggle with price increase emissions reduction process
(19.04.2022)
Benelux scrap inches down, exporters resist major discounts Windfall profit opportunities from
EU ETS to run low in new phase
(08.02.2022)
In brief: Assofermet changes leadership
Energy sources
EU steelmakers not worried yet
Americas about output, decarbonisation
plans despite gas concerns
(09.08.2022)
In brief: ArcelorMittal to upgrade Tubarao steel plant Transition to gas-based DRI-EAF
route in jeopardy as energy crisis
aggravates (12.07.2022)
In brief: Canada may extend duties on welded
Biogas gains higher rankings to
pipe imports from four countries support energy transition for
industry (31.05.2022)
EU’s 300 billion energy security
World plan set to unlock opportunities
for decarbonization (24.05.2022)
Coal remains strategic backup for
Freight market overview // 20th week 2024 EU industry as energy sources dry
up (17.05.2022)
Germany’s stake on renewables
to support steel sector
transformation (12.04.2022)
CBAM prospects
Steel suppliers to EU have
different approach on CBAM
(01.03.2022)
CBAM requires a lot of
clarifications before coming into
force (22.02.2022)
Defining “green”
Green steel label taking
shape with taxonomy in place
(22.03.2022)
Controversial green label on gas,
nuclear turns vital for EU energy
safety in war times (09.03.2022)
CCUS implementation
CCUS projects still unpopular
in steel sector decarbonisation
(05.04.2022)
These articles are available as part
of Green Steel Weekly subscription.
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Latest Contracts
Latest Contracts
Contracts for steel products and raw materials
Commodity/specifications Origin/supplier Consumer Volume, t Price & delivery terms Details

Square billet
Square billet Turkiye Turkiye 22,000 $569‑570/t EXW done yesterday
Square billet Indonesia traders n/a $490‑493/t FOB June shipment
Scrap
HMS 1&2 (80:20) USA Turkiye n/a $380/t CFR done yesterday
HMS 1&2 (90:10) USA Turkiye n/a $387/t CFR done last week
containerized scrap,
Shredded USA India n/a $418/t CFR
concluded this week
Daily price assessments for steel products and raw materials

Methodology
Daily
Commodity Country Currency, delivery term May 17, 2024 Metal Expert publishes the
change
Iron ore, 62% Fe China $/t, CFR ex-Australia 117.75 +0.5 following types of prices:
Coking coal Australia $/t, FOB 238,5 –13.5
Ferrous scrap, HMS 1&2
Turkey $/t, CFR ex-USA 381 0 offer price – an offer from
(80:20)
Ferrous scrap, shredded Turkey $/t, CFR ex-USA 401 0 a supplier but a deal has
Ferrous scrap, HMS 2 Japan JPY/t, FOB 53,000 –500 not been signed at this
Ferrous scrap, HMS 1&2
Netherlands $/t, FOB 347 0 level as of the time of
(75:25)
Ferrous scrap, HMS 1&2 publication;
Netherlands $/t, FOB 352 0
(80:20)
RMB/t, EXW Tangshan,
Square billet, 150 mm China 3,500 +10 contract price – a trans-
incl. 13% VAT
$/t, EXW Tangshan, incl. action price confirmed on
Square billet, 150 mm China 493 +2
13% VAT
both seller’s and buyer’s
Square billet, 120 mm Philippines $/t, CFR 523 +6
Square billet, 125‑150 mm CIS $/t, FOB 500 –5 side;
Square billet, 125‑150 mm Turkey $/t, CFR 520 –5
Rebar, 12 mm Turkey $/t, EXW, еxcl. 18% VAT 593 0 price assessment – Metal
Rebar, 8‑32 mm Turkey $/t, FOB 585 0
Expert’s estimate of a fair
Rebar, 12, 32 mm Germany EUR/t, CPT 625 0
Wire rod, 6.5 mm China $/t, FOB 545 0 price level for a possible
HRC, 3‑12 mm China $/t, FOB 545 +10 transaction in current
HRC, 2 mm Vietnam $/t, CFR 560 +10
market conditions.
HRC, base Germany EUR/t, EXW, еxcl. 19% VAT 640 –10
Weekly price assessments for steel products and raw materials
Commodity Country Currency, delivery term May 17, 2024 W-o-w

Square billet, 130‑150 mm Iran $/t, FOB South ports 478 +3
Square billet, 130‑150 mm Thailand $/t, CFR ex-Iran 523 +3
HRC, 2‑8 mm Russia $/t, FOB Black Sea 570 +15
HRC, 1.9‑4 mm Turkey $/t, CFR ex-Russia 595 –5
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Steel Futures
Steel Futures
Ferrous futures increase slightly again as China announces more stimuli
Steel futures / Flat Products, Long products, Coal, Iron Ore
Chinese ferrous futures extended gains on Friday, though at a much slower pace,
amid new stimuli from the government on the one hand and mixed economic data
coupled with cautious forecasts on the other.
On May 17, rebar and HRC futures on the SHFE inched up by RMB 13/t ($1.8/t) to
RMB 9/t ($1.3/t) respectively on the day, while iron ore and coking coal futures on
the DCE added RMB 10.5/t ($1.5/t) and RMB 4/t ($0.6/t).
The raw materials and steel market was impacted by statements from China’s cen-
tral government and numerous official data released on Friday. In particular, Beijing
has revealed new measures to promote the development of the weak property sec-
tor. On May 17, the vice premier He Lifeng said that local governments in the cities
with excessive real estate stocks should buy them to turn into affordable housing.
The central bank, in turn, announced it was going to establish an RMB 300 bil-
lion ($42.2 billion) programme to fund state-owned enterprises to purchase un-
sold homes, according to a Chinese official media source. Moreover, the bank has
reduced the minimum down payment ratio to 15% from 20% for first-time home
buyers and to 25% from 30% for second-time buyers.
However, a number of participants doubt the price sustainability. “That [stimulus] is
actually a very positive development, but its effect on spot market prices is purely
psychological right now. If we focus on current market dynamics excluding this de-
velopment, production is still high, domestic demand is still not good, rainy season
commences soon, and they [Chinese] will rely on exports, so daily observation is
needed,” a market analyst told Metal Expert.
Besides, the Friday increase was limited by mixed economic data and negative indi-
cators in the real estate market. Retail sales in April grew slower than expected, by
2.3% versus the forecast of 3.8%, while industrial output exceeded anticipations,
rising by 6.7% versus 5.5% over the period. Last month, new construction starts
and sales by floor area slumped by 25% and 20% respectively on the year, while
property investment in the first four months of 2024 reduced by 9.8%.
The National Bureau of Statistics also said that crude steel production in China
fell by 2.6% m-o-m and 7.2% y-o-y to 85.94 million t in April and by 3% y-o-y to
343.67 million t in January-April. The reduction was a surprise for many market
participants since Chinese steelmakers had ramped up output last month on better
margin. However, the decrease can be attributed to fewer days in April compared
to March.
Steel Futures
Major steel and raw materials futures in China

$1 = RMB 7.1045
Products Exchange Delivery month Currency Price Change, d-o-d

Rebar, 16‑25 mm SHFE October RMB/t 3,716 +13
Rebar, 16‑25 mm SHFE October $/t 523.05 +1.83
HRC, 3.5‑9.75 mm SHFE October RMB/t 3,849 +9
HRC, 3.5‑9.75 mm SHFE October $/t 541.77 +1.27
Iron ore, 62% Fe DCE September RMB/t 891.5 +10.5
Iron ore, 62% Fe DCE September $/t 125.48 +1.48
Coking coal DCE September RMB/t 1,724.5 +4
Coking coal DCE September $/t 242.73 +0.56
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MENA
MENA
More ex-US scrap sales to Turkiye disclosed
MENA / Scrap
At the end of the working week, the information about two ex-US scrap sales made
earlier to Turkiye was disclosed. Sides’ price ideas stay divergent.
A day ago, a Marmara-based steelmaker booked HMS 1&2 (80:20) at $380/t CFR
from a US scrap supplier, Metal Expert has learnt.
Last week, the same exporter sold HMS 1&2 (90:10) at $387/t CFR to a company
from the Iskenderun region.
Mixed sentiments prevail in the Turkish ferrous scrap market. While the producers
keep citing tight rebar and billet sales, suppliers continue to face low material flow
and are not ready to provide discounts. Target levels from European scrap suppli-
ers are set above $380/t CFR for HMS 1&2 (80:20) and their US peers are ready to
cooperate at $385/t CFR for the same material. “The market is really very compli-
cated. The mills were targeting $370‑375/t CFR for HMS 1&2 (80:20), which could
not be possible. I believe that the workable range will be $375‑380/t CFR for EU
material and $380‑385/t CFR – for US and Baltic one,” a Turkish scrap agent told
Metal Expert.
Metal Expert’s daily price assessment for HMS 1&2 (80:20) from the US East Coast
stayed unchanged on May 17 at $381/t CFR Turkiye.
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More sales registered in Turkish billet market

MENA / Billet
Trading activity has returned to the Turkish billet market towards the end of the
week, breaking the long-lasting silence. Sales were made by an Iskenderun-based
mill, which appeared to be the most successful in trade druing the week.
Some 22,000 t of billet was sold by one of the key Iskenderun-located steel produc-
ers at $569‑570/t EXW to local customers yesterday. “Billet changed hands with
three customers as far as I know,” an insider told Metal Expert. Apart from that,
market participants reported some additional sales from Kardemir, which opened
the new round yesterday, asking $550/t EXW and $565/t EXW for S235JR and
B420 semis (150x150 mm) respectively. In total, the steelmaker has sold 9,500 t of
semis “as a final quantity,” but the round of sales is still open.
MENA
In the import segment, some Russian and CIS suppliers appeared with their offers
after some silence earlier: billet could be booked at $520‑525/t CFR. Market play-
ers assume that customers’ price expectations for products of mentioned origin
could be $10‑15/t lower.
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Turkish HRC segment in limbo in mid-May

MENA / Flat Products
Business activity was tepid in the Turkish HRC segment in mid-May. Having partly
filled order books over the previous weeks, the producers are not in a rush to drop
the prices as low as the potential customers are asking, both locally and abroad.
Local HRC tags for medium and small lots were reported within $625‑635/t EXW,
which is about $5/t lower than reported earlier in May. Big tonnages might be
booked starting at $610/t EXW, according to some sources. Firm production costs,
along with overall limited availability are believed to be among the reasons for that.
With the slow business and the upcoming religious holidays in mid-June, some
producers might take a break for planned maintenance, insiders opined. “There is
Bayram on June 16‑19, so this week might be used for maintenance purposes by
the most of production facilities, with an exception of integrated ones,” a source
told Metal Expert.
In the export segment, Turkish suppliers are not willing to drastically decrease their
prices, whereas the customers are trying to achieve more attractive terms. “The
prices are already low and there is no pressure to sell these days,” a source noted.
A handful of deals were done to European countries over the recent weeks, with
the lowest price being $580/t FOB, according to the sources. “No one is willing to
drop more than that these days,” an insider resumed.
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Europe absorbs most of Turkish HR exports in March

MENA / Flat Products
Exports of Turkish HR coils and sheets went up in March, further boosting the
increase in cumulative figures in annual comparison. European countries stayed the
main trading outlet for the Turkish producers.
MENA
The country exported 190,424 t of HR sheets and coils in March 2024, up 31.6%
year-on-year, according to the Turkish Statistical Institute (TUIK). Moreover, the
volume went up from the 151,427 t seen in February 2024.
The lion’s share of the total tonnages (72%) was directed to the European mar-
ket. This region increased intake by 47.9% y-o-y to 136,377 t with Spain overtop-
ping Italy over the period under the review. “Such dynamics reflect the window of
opportunity, which opened for Turkish producers, though with the current quota
system and firm competition with suppliers from alternative destinations, the pace
will definitely be changeable,” a source told Metal Expert.
In March, MENA absorbed 20% of Turkish volumes or 38,663 t versus 39,172 t
(27%) a year ago. Iraq took third place among countries, having booked 14,958 t.
The CIS continued to increase purchases from Turkiye in March. Turkish producers
increased exports to this region from 7,369 t to 11,815 t, accounting for 6% of total
exports. Latin American countries zoomed up intake by 128.2% to 1,373 t y-o-y.
Over January-March 2024, Turkiye exported 446,598 t of HR coils and sheets, up
by 46.3% y-o-y, TUIK data shows. Europe consumed 63% of this amount, with
Italy’s share alone being 23.1% in the total volume. MENA countries imported 24%
or 105,955 t (up by 4.3%) in Q1. The remaining tonnages went to the CIS (7% or
31,646 t) and North America (4%).
Top‑10 Turkish HR flats buyers, t
Country Jan-Mar 2024 Jan-Mar 2023 Y-o-y, % Mar 2024 Mar 2023 Y-o-y, %
Italy 103,266 79,646 +29.7 38,577 56,785 –32.1
Spain 55,002 13,787 +298.9 48,378 11,962 +304.4
Iraq 49,827 28,785 +73.1 14,958 11,653 +28.4
Greece 34,881 28,410 +22.8 14,779 6,271 +135.7
Ukraine 26,821 12,215 +119.6 10,987 6,578 +67.0
Kosovo 22,977 265 +8,559.4 123 80 +53.5
USA 18,132 531 +3,313.8 46 524 –91.3
Albania 16,258 11,120 +46.2 7,819 3,852 +103.0
Egypt 15,539 40,726 –61.8 10,709 18,837 –43.2
Serbia 13,559 2,185 +520.4 6,950 1,809 +284.2
Others 90,337 87,607 +3.1 37,099 26,335 +40.9
Total 446,598 305,278 +46.3 190,424 144,684 +31.6
Source: TUIK.
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BMS Wire completes foreign trade company establishment

MENA / Long products
BMS Wire, one of the leading wire manufacturers in Turkiye, is stepping up its
global presence, specifically in the US market. The company has finalised the es-
tablishment of its foreign trading branch.
The branch under the name of BMS STEEL US has an initial capital of $10,000 and
is a 100% subsidiary of the Turkish company. “The relevant subsidiary was estab-
lished in order to contribute to BMS Wire’s sales and marketing activities in the
MENA
United States of America and the registration process has been completed,” the
company resumed.
BMS Wire specialises in wire manufacturing and operates a state-of-the-art facility
in Kocaeli Dilovasi Machinery Specialized Organized Industrial Zone. With an annual
capacity of 72,000 t, the company serves the energy, agriculture, construction, and
automotive sectors, and exports to 45 countries in Europe and the Americas.
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Turkiye’s residential sales keep sliding

MENA / Flat Products, Long products
Turkiye’s real estate market, one of the main steel-consuming segments, contin-
ued to sink in an annual comparison in April. This affected the cumulative marks of
2024, which now are trailing slightly behind last year’s.
The country’s house sales lost 11.8% year-on-year, coming to 75,569 units in April,
the Turkish Statistical Institute reports. Istanbul traditionally accounted for the
largest share (12,406 units) Ankara ranked second with house sales of 6,272 units,
while those in Antalya totalled 4,427 units, Metal Expert learnt.
The downward trend prevailed in April, with the only exception for other house
sales, which amounted to 68,498 units (up 7.2% y-o-y), though it could hardly
offset the overall weakening as mortgaged sales slumped by 67.5% to 7,071 units.
Difficulties with accessing loans, along with the overall economic headwinds, are
believed to be among the major reasons behind this. First sales slid by 10.6% to
24,085 units and second hand ones – by 12.3% to 51,484 units in comparison with
April 2023.
The cumulative results for January-April 2024 were 3.7% behind those of the corre-
sponding period of 2023, amounting to 355,173 units. The numbers reflected lower
interest in mortgaged sales (down 57%; 34,693 units y-o-y), whereas other house
sales slightly offset the negative dynamics, rising 11.2% to 320,480 units, Metal
Expert learnt.
The home sales to foreigners halved in April, coming to 1,272 units; Russian buyers
bought 23% of the residential property. The January-April indicator decreased by
48.4% to 6,957 units.
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IGISCO close to launching pellet production in Bahabad

MENA / Iron Ore
Iranian Ghadir Iron and Steel Company (IGISCO) aims to commission a new pel-
letizing complex in the near future. The company will satisfy the needs of local DRI
manufacturers and will have the potential to export.
IGISCO is expected to start production at a 4 million tpy Bahabad Pelletizing
Complex located in Yazd province soon. “The asset is ready for pre-launch,” the
MENA
company source said. The supplier will commence operations in June, Metal Expert
learnt.
The raw materials for pellet production will be supplied from the nearby local
assets. In particular, Iran’s Chadormalu Mining and Industrial Company will provide
concentrate from the 1 million tpy Asr-e-Novin Bahabad Iron Ore Concentrate Plant
in Bahabad.
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UAE and Oman commence preparatory works for $3 billion railway project
MENA / Long products
After the announcement of the most ambitious UAE-Oman transportation initiative
known as Hafeet Rail, construction is gearing up. The railway network will open
new possibilities for the industrial sector, making these areas the magnet for the
downstream industries.
Hafeet Rail commenced preparatory works for the construction of the $3 billion
UAE-Oman railway line, according to the official information. “It is a testament to
the robust synergy between all parties concerned in both nations and has made
this milestone possible in record time. We are confidently laying down the right
tracks thanks to the shareholders of Hafeet Rail and the expertise of a number of
local companies in Oman and the UAE in addition to international partners,” Ahmed
Al Musawa Al Hashemi, CEO of Hafeet Rail said.
The UAE-Oman railway network will open new possibilities for the industrial sector.
Earlier, several regional steelmakers and a global miner expressed interest in this
route to transport raw materials and steel (Emirates Steel Arkan, Jindal Shadeed,
Al Jazeera Steel, Vale etc.), Metal Expert reported. “In addition to ground transport
through the Muscat-Dubai highway, and a dedicated 600-metre jetty, soon the port
will also be connected to the UAE via rail which will make Jindal Shadeed Sohar
location a magnet for downstream units that can process primary steel to produce
value-added products,” Harsha Shetty, CEO of Jindal Shadeed summarised.
The Hafeet Rail project is a 303-km link between Oman and the UAE. At least two
major tunnels of approximately 1.7 km and 1.6 km are supposed to be built as part
of the project. The Omani component is 163 km, while the whole network will con-
nect the Sohar port with the UAE National Rail Network. It is intended to become
a fast and efficient means of connection, reducing car traffic and carbon footprint.
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Asia
Asia
Asian traders purchase Indonesian billet at lower levels
Asia / Billet
Asian traders were active in buying Indonesian billet this week, though deal prices
were below the previous booking level. Meanwhile, some interest in imported mate-
rial was noticed in the Philippines, with several deals disclosed to the market.
Indonesian semis changed hands at $490‑493/t FOB for June shipment this week
compared to $500/t FOB fixed in early May, Metal Expert learnt. Sources say at
least 35,000 t was booked by Asian traders, but others assume the volume was
bigger. “Multiple traders bought from Dexin and much more than 35,000 t was sold,
mostly 3sp 150 mm,” an insider comments. Billet offers of base grade from the
Indonesian mill were ranging in $500‑505/t FOB this week; the supplier was not
giving firm offers on Friday, but was not ready to go lower than $500/t FOB when
received a bid. Such moods are due to higher prices from Chinese rivals.
On May 17, billet (3sp) from Chinese mills were available generally at $505‑510/t
FOB after rising on Thursday by $3‑10/t to $503‑515/t FOB since the week’s start,
following the bullish moods on the SHFE. In particular, rebar futures jumped on
Thursday by RMB 82/t ($11.5/t) on the day amid rumours that the Chinese govern-
ment might provide stronger support to property and infrastructure sectors. On
Friday, the rise was extended, albeit at a slower pace (by RMB 13/t or $1.8/t d-o-d).
However, players do not predict that bullish moods will continue in the near term.
“I think prices will not change too much because we do not foresee significant im-
provement from demand side,” a large Chinese exporter told Metal Expert. “There
is a bounce in the Chinese domestic market, but let us see how long this will last,”
an importer in SE Asia said.
In the Philippines, unconfirmed deals for Indonesian origin billet from traders were
heard at $520‑523/t CFR this week. Two lots of 10,000 t each were traded. Offers
for open origin 5sp material were $525‑530/t CFR Manila late this week from
$517‑530/t CFR on Tuesday. Same offer range was voiced to SE Asian buyers, with
bids at below $520/t CFR.
In Taiwan, activity for semis was low, given weak fundamentals in the longs sector.
Open origin 3sp billet was offered at $515‑520/t CFR Taiwan, while importers were
ready to purchase at $505‑510/t CFR. Russian billet was available at $512/t CFR
and bids were at $500‑505/t CFR. No deals have been reported.
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Asia
Indian market assesses impact of BIS renewal for Vietnamese HRC

Asia / Flat Products
A Vietnamese HRC seller has started testing waters in the Indian market after
some of its quality certificates were renewed. Indian customers were reluctant to
make orders as the prices were considered too high. Besides, they have been try-
ing to estimate the impact of the renewal on the local prices and supply.
Last Friday, a large Vietnamese steelmaker Formosa Ha Tinh had two of its three
BIS certificates – IS1079 (HR for structural steel) and IS11513 (HR for re-roling) –
extended to December 2024, according to the data received from the producer.
“The government still did not extend the one against which maximum imports
came [IS5986 high tensile HR for auto],” an Indian market source told Metal Expert.
Foreign exporters need to obtain a BIS certificate to be able to ship products to
the Indian market. Without it, the products can only be used as feed to manufac-
ture finished products for further export.
Indian buyers are trying to estimate the possible impact of the renewal on the
domestic market, where mills are expanding HRC potential. From August 2023 to
March 2024, India added 13.4 million tpy of new HRC capacities. “Both 11513 and
1079 are pretty saleable items in India. However, grade 11513 is utilised by re-roll-
ing manufacturers. Most of them deal with big banners JSW, AM/NS and Tata.
Vietnamese prices for the Indian market are likely to impact Indian domestic prices.
The supplier is evaluating its positions,” an Indian trader explained to Metal Expert.
Some indicatives for Vietnamese SPHT were already voiced at $610‑615/t CFR India
this week, whereas most Indian buyers would agree to make deals at $590‑595/t
CFR. Market sources doubt that prices for Vietnamese material will drop to this
level fast as there are again talks of the possible imposition of safeguard duties
in the market. “India might consider starting the investigation against Vietnamese
HRC, similar to the one Vietnam started on Chinese and Indian material,” a
Vietnamese source opined.
HR flats imports from Vietnam to India have been going up over the past two fiscal
years. Last year (ended on March 31, 2024), they amounted to 583,321 t versus just
0.04 t in FY22, according to the Indian Ministry of Commerce and Industry. The im-
ports from Vietnam to India continued in April 2023 – January 2024, with volumes
slumping in December 2023 due to the expiration of Formosa’s BIS certificates
and amounted to zero in February-March 2024. Indian HR flats exporters lost their
positions in Vietnam in FY23‑24 due to the imposition of the 15% export duty on
carbon HRC from India in May 2022. Though the tariff was abolished in November
2022, Indian mills could not compete with Chinese sellers in the outlet. As a result,
Asia
the volumes slumped from 1.67 million t in FY22 to 395,215 t in FY24, Metal Expert
has learnt.
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Iron ore rises on government property sector incentives

Asia / Iron Ore
On Friday, iron ore prices continued to rise due to the government’s incentive
measures in the property sector. However, the increase was limited by mixed eco-
nomic data and seasonally dull demand prospects.
Australian iron ore fines 62% Fe inched up by $0.5/t to $117.75/t CFR, following an
on-day rise of RMB 10.5/t ($1.5/t) on the DCE and $0.9/t on the SGX due to the
government’s incentive measures in the property sector.
The vice premier of China stated that authorities in cities with an excess of va-
cant housing should acquire it to convert into affordable homes. The central bank
also announced an RMB 300 billion ($42.2 billion) programme to help state-owned
companies purchase these homes. Besides, the bank reduced the minimum down
payment ratio for home buyers: from 20% to 15% for first-time buyers and from
30% to 25% for second-time buyers.
Still, insiders say the current increase driven by incentives is more psychological in
nature as demand for steel is slowing down, production is high, and the low season
is approaching, so further observation is needed.
Moreover, the economic indicators published on May 17 were mixed, and those for
the property sector continued to decline. Retail sales in April rose by 2.3% year-
on-year versus 3.1% in March and the forecast of 3.8%. Property investment for
the first four months of the year fell by 9.8%, while new construction starts and
sales by floor area in April plunged by 25% and 20%
respectively. CHINA: IMPORT PRICES FOR AUSTRALIAN
FINES, 62%, $/T CFR
Crude steel production last month decreased by 2.6% 120
compared to the previous month and by 7.2% year-on- 119
year, totaling 85.94 million t. In the first four months
118
of the year, production fell by 3% year-on-year to
117
343.67 million t, according to the National Bureau of
Statistics of China, despite expectations of growth due 116
to better margins. 115
In addition, trading activity shrank amid a price rise, with 114

30.04 07.05 09.05 13.04 15.05 17.05
no deals reported on platforms during the day.
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Chinese sellers hike HRC offers to Vietnam

Asia / Flat Products
Import prices for Chinese HRC to Vietnam expectedly surged by the end of the
week due to rising futures, supported by a number of stimuli announced by Beijing.
Asia
On Thursday, Chinese exporters raised their HRC prices to Vietnam by $10/t, in

particular, Q195 and SAE1006 products were offered at $538/t CFR and $560/t
CFR for July shipment. On Friday, the offers remained at the same level, insiders
say.
The rise was attributed to an RMB 75/t ($10.6/t) spike in Chinese HRC futures dur-
ing May 16‑17 caused by the rumoured stimuli from the central government, which
it has already announced. However, many participants doubt the price sustainability
due to relatively soft balance of China’s local market and the negative impact of
seasonal factors, so the new offers met no interest in Vietnam. “There is no trade
since the price has surged. No bids were heard from Vietnamese buyers,” a local
trader told Metal Expert. The previous deal was done by Chinese sellers on the
destination at the start of the week for Q195 HRC at $531/t CFR, as Metal Expert
reported.
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Australian coking coal falls on sluggish buying

Asia / Coal
Export prices for Australian coking coal fell this week amid persistently low custom-
ers’ interest caused by weak demand for steel products in the region, in particular,
due to seasonal factors.
In the middle of the week, two offers for premium mid-volatile Illawarra brand
material were reported in the market: one for 75,000 t at $238/t FOB for May 31 –
June 9 laycan and another one – for 40,000 t at $239/t FOB for early June laycan.
As a result, Metal Expert reduced its daily price assessment for the coking coal by
$13.5/t to $238.5/t FOB.
Suppliers have cut their offers, given extremely weak buying interest in the raw
material market. “Trade is sluggish because the steel market is also weak,” a source
told Metal Expert. The latest deal was done on May 7 at $252/t FOB, but since
then, the number of offers and bids has been very limited, insiders say.
In China, coking coal prices went down marginally, while coke tags have been sta-
ble since May 7, impacted by both expectations of higher production and the new
stimulus announced by the government.
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Chinese wire rod export prices drop, might increase next week
Asia / Long products
Chinese wire rod sellers cut export prices this week amid persistently slow actual
demand for steel. However, they are considering a price increase next week as the
sentiment has improved in the country due to new real estate stimuli.
Offers for Chinese low-carbon wire rod (SAE 1008, 6.5 mm) have declined by
$5‑15/t over a week to $540‑550/t FOB due to overall sluggish buying activity in
Asia
both domestic and export markets. Mills’ inventories increased for the second week
in a row, and short-term forecasts were negative due to seasonal factors.
Some offers for Chinese wire rod from traders were indicated at $525‑535/t CFR
without specification if they include VAT or not. Last week, offers for Chinese rods
to SE Asia were reported at $550/t CFR including VAT.
Mills are considering price increases next week, driven by better moods in China
as the government announced some property stimuli, which resulted in improved
sentiment and surges in steel futures in the past two days.
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Vietnamese import scrap market weakens

Asia / Scrap
Vietnamese scrap importers were less active this week, which resulted in a slight
decrease in prices for Hong Kong and US origin material. Those buyers who need-
ed to replenish stocks chose Japanese raw materials or purchased locally.
Offers for Japanese H2 scrap were set at $380‑385/t CFR Vietnam, while workable
levels were at around $375/t CFR. “Just some interest was noticed in Japan origin
scrap, but not many deals were done. Overall demand was low from the mills as
they secured scrap earlier,” a source in Vietnam told Metal Expert. The material of
high grade from Japan was priced at $400‑405/t CFR.
Offers for bulk HMS 1&2 (80:20) from the USA decreased by $5/t to $395‑400/t
CFR week-on-week, but were still assumed as uncompetitive. Suppliers wanted to
sell Hong Kong origin HMS 1&2 (50:50) at $370‑375/t CFR compared to $375/t CFR
in the previous week, but failed to sign contracts in Vietnam.
In the domestic market, a large northern mill decreased purchasing prices for H1
grade by VND 200/kg ($8/t) to VND 9,700/kg ($381/t) DDP, effective from May
14. Insiders assume that buying price for H2 grade will be around VND 9,500/kg
($373/t) DDP.
Meanwhile, demand for long products remained largely moderate. Offer prices for
rebar were stable this week, but mills were testing the market with higher prices
for wire rod (+VND 150/kg or +$6/t w-o-w). Players expect tags for finished prod-
ucts to stabilize in the short term.
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CIS
CIS
Export billet prices from Black Sea basin soften
CIS / Billet
Only a few offers were voiced by billet suppliers from the Black Sea basin in the
international market over the week. Some of them were trying to evaluate the
current market situation and decided to wait until the announcement of new levels.
Some others, who were present with their export offers, slightly reduced them
compared with the previous week. Further dynamics stay unclear, as the current
decrease is still not sufficient to find customers’ feedback, sources mentioned.
Billet from the Black Sea basin was offered to foreign buyers at around $500‑505/t
FOB Black Sea versus $505‑510/t FOB last week. Semis are scheduled for late
June – early July shipment. “Suppliers are closely monitoring developments in the
scrap segment and adjust their semis offers accordingly,” an insider told Metal
Expert.
In Turkiye, some billet offers from Russia and the CIS appeared closer to the end
of the week. Semis could be booked at $520‑525/t CFR ($500‑505/t FOB Black
Sea) compared to $525‑529/t CFR ($505/t FOB) registered in deals a week ago.
“I haven’t heard any deals this week. Turkish customers, I believe, are ready to buy
from around $510/t CFR [around $490/t FOB Black Sea],” a steel trader told Metal
Expert.
In Tunisia, billet from the CIS could be booked at $530‑540/t CFR ($485‑500/t
FOB Black Sea) via trader versus $535‑545/t CFR (around $490‑505/t FOB Black
Sea) before. “Big tonnage could be bought at $530/t CFR and small one at $540/t
CFR,” a Tunisian source mentioned. Egyptian re-rollers reported no new billet offers
from Russia and some other CIS suppliers; however, they received some offers of
Ukrainian-origin semis at $570‑575/t CFR.
Taking into account available offers and the absence of new deals, Metal Expert
has decided to decrease its daily price assessment for CIS export billet by $5/t to
$500/t FOB.
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Russian HRC export prices strengthen in new sales

CIS / Flat Products
While the presence of Russian HRC sellers in the international market remained
very limited over the last three weeks, some sales were reported by market partic-
ipants. Steel suppliers managed to register higher levels, but this tendency most
probably will not last in their future offers and prices may roll back. Meanwhile,
some sub-sanctioned sellers continued to stay out of export sales due to unfa-
vourable trading conditions and preferred to concentrate on trade in the internal
market.
Russian HRC prices significantly increased in recently registered deals. Some
3,000 t of the product was sold to Turkiye at $575‑580/t FOB Black Sea from June
CIS
production versus $557‑558/t FOB registered in deals around three weeks ago. “It’s
not clear why this increase did happen, probably there were some special sales
and with special conditions,” an insider pointed out. Information about an offer of a
similar quantity of HRC at around $570/t FOB Black Sea is being discussed in the
market. Some new levels from sellers are expected to be announced at the begin-
ning of June. “Probably, suppliers will step back with their offers,” a source familiar
with the situation told Metal Expert.
Sub-sanctioned producers refrain from offering abroad, while still following the sit-
uation in the international market. “Customers from MENA voice stable price ideas
at around $590/t CFR. At the same time, the rouble gets stronger, so it’s again
more interesting to supply in the CIS,” a market participant told Metal Expert.
Some additional small volumes of CRC from June production are offered at around
$715/t FOB versus $730/t FOB earlier. Discounts are hardly possible, according to
the sources.
Slabs were available at $470‑500/t FOB Black Sea versus $460‑500/t FOB earlier.
The upper end of the range was anchored in offers and sales to customers from
South America, while the lower end corresponds to offers to Turkiye. Meanwhile, in
Turkiye, slabs could be booked at around $510‑515/t CFR “preliminarily.” “Freight to
Turkiye is around $29‑30/t,” an insider noted. Slabs from sub-sanctioned manufac-
turers could also be bought at $480/t CFR Turkiye (around $450/t FOB Black Sea).
Information about sales at $515/t CFR to Europe of two lots of slabs was circulat-
ing in the market but without further details.
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Yakovlevsky GOK increases sinter ore mining capacity

CIS / Iron Ore
Yakovlevsky GOK, controlled by Severstal, has entered the final phase of a key
project to increase ore mining capacity. The company will replace the drum of a
skip lifting unit. This will allow it to reach a sinter ore capacity of 5 million tpy in
the future.
The GOK is in the final stage of the investment project. It is planned to replace the
drum of the skip lifting installation at shaft No.1 in 21 days; during this period, ore
production will be suspended. Repairs and modernization of equipment are being
carried out in other areas. The company plans no mining suspension; storage areas
have been equipped at the mining horizon, where 170,000 t of mined ore will be
sent until the skip complex resumes operation.
The drum set equipment was supplied by the Soligorsk Institute of Resource
Conservation Problems with Pilot Production (Belarus), Metal Expert reported.
Replacing the drum will increase the productivity of the skip lifting installation by
20%. The implementation of this project, as well as further renewal of the mining
equipment fleet, will allow producing 5 million tpy of sinter ore in 2026, compared
to 3.4 million tpy in 2023.
CIS
Yakovlevsky GOK produced 790,000 t of sinter ore (–3% over the year) in Q1 2024,
according to Metal Expert data. The main volume (87%) was shipped to Severstal,
and small quantities were sold to the domestic market in February-March.
Back to top
In brief: Welded tube imports in Ukraine rise in April

CIS / Tubes & Pipes
In April, imports of small and medium-sized welded tubes to Ukraine went up by
2.2 times to 4,600 t. The growth was driven by traders’ increased tube purchases,
which reached 3,400 t (up 2.7 times). Imports of welded tubes to machine-building
enterprises were minimal, while supplies to other end users increased by 45% to
1,200 t. The bulk of small and medium-sized welded tubes came from Turkiye –
about 3,500 t, with the key suppliers being Ozdemir Boru Profil and Sonmezler
Metal. About 600 t was imported from Poland. April also saw a 2.5-fold increase
to 240 t in large-diameter welded tube imports. Further growth in arrivals of both
small and medium welded tubes and hot-rolled coils (for tube production), primar-
ily from Turkiye, at quite competitive prices cannot be ruled out in May. This may
exert pressure on the price situation in the Ukrainian welded tubes market, but
sporadic deficit and generally limited tube supply will be curbing the price reduction
for some time. According to Metal Expert’s estimates, Ukraine imported 12,200 t of
small and medium-sized welded tubes (1.8 times growth) and 600 t of large-diame-
ter welded tubes (–71%) in four months.
Back to top
Europe
Europe
Italian HRC prices remain under pressure from poor buying
Europe / Flat Products
Business activity in the Italian HRC market remains extremely low in mid-May, but
prices stay largely stable. Meanwhile, import tags have slightly declined.
Italy’s HRC producer continues to insist on EUR 670/t delivered (around EUR 660/t
EXW), base for small and medium lots. Only for large orders, the supplier is report-
edly ready to lower the price to EUR 650/t delivered (EUR 640/t EXW) base. HRC
is available in Italy for June-July delivery.
Business activity is extremely low in Italy this month, which makes it difficult for
the domestic supplier to increase the prices. “It’s hard to increase HRC prices
because downstream segments, such as sheets and pipe markets, are weak. End-
users do not accept price increases yet,” a local source told Metal Expert.
At the same time, there is no room for HRC price decrease in Italy due to the lack
of the product in the market. Acciaierie d’Italia is not offering at the moment, and
import availability is limited due to safeguard quotas.
Import prices somewhat softened over the week. HRC from Turkiye for July ship-
ment is offered at EUR 580/t CFR (about EUR 610/t CFR duty paid), down by
EUR 10/t over the week. Offers for HRC from Egypt and Taiwan are heard at
EUR 610/t CFR and from Ukraine at EUR 580/t CFR, all for August shipment.
Back to top
Spain’s rebar export prices stabilise, wire rod goes up

Europe / Long products
Export prices for Spanish rebar have remained largely unchanged in May, and there
are no expectations of a price change in the coming weeks either. Meanwhile, wire
rod export tags slightly went up. Business activity in Europe remains slow.
This week, export prices to Western Europe and Baltic states for straight rebar are
set at EUR 615‑620/t CFR (EUR 575‑580/t FOB) and for rebar in coils at EUR 640/t
CFR (600/t FOB). Prices inched up by EUR 5/t, but that is not considered a sign
of stability rather than a price improvement. The business activity remains low in
Europe, with no signs for improvement. There is less resistance from customers
when it comes to the price level, but in general, deals are rare, Metal Expert learnt.
Europe
“Price is not an issue right now, as long as [mills] are around this price level, [they]
should be competitive enough, but the problem is just lack of demand,” a local
source shared his opinion with Metal Expert.
Wire rod export prices went up in early May. Low-carbon and medium-carbon wire
rod was traded in Europe at around EUR 630/t CFR and at EUR 650/t CFR respec-
tively, up by EUR 10/t over two weeks. The export offer prices for high carbon wire
rod were voiced at EUR 690/t CFR versus EUR 670/t CFR two weeks ago.
Back to top
Italian wire rod producers still struggle with price increase

Europe / Long products
Italian wire rod producers continue to push for higher prices to cover high energy
and raw material costs. Demand remains low at the moment, but insiders expect it
to improve in June when restocking starts.
The wire rod market has been very quiet during the last two weeks as most large
customers are reluctant to purchase. However, local mills hope for some restocking
shortly. “The demand is low, but for June there are some signals of restarting of
purchases,” a local mill told Metal Expert.
Italian producers are still trying to increase wire rod prices because of costly
energy and scrap and lower production. They continue to ask for EUR 660/t DAP
drawing quality wire rod, and EUR 630/t DAP for mesh quality for May delivery,
but are ready to compromise. The workable price for large volumes is assessed at
EUR 640/t DAP, versus EUR 620‑630/t DAP voiced two weeks ago. Workable pric-
es for medium and small volumes should be higher.
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Benelux scrap inches down, exporters resist major discounts

Europe / Scrap
Benelux scrap suppliers were trying to keep their quotes firm in the middle of May,
but the downward pressure is still strong in the major outlets. Mixed sentiment is
seen among insiders.
Turkiye’s steelmakers resumed their deep-sea scrap purchases this week, with the
prices inching down for European material. A mixed cargo was sold to Turkiye from
the Netherlands, in which HMS 1&2 (80:20) changed hands at $375/t CFR and
Europe
bonus material at $395/t CFR. However, the market players note that European
collectors now target around $380/t CFR Turkiye for HMS 1&2 (80:20) and the level
of $375/t CFR for the mentioned grade will hardly be available in the next trans-
actions. Apart from that, several ex-US scrap lots were booked in Turkiye, where
HMS 1&2 (80:20) was priced within $380‑382.5/t CFR.
Considering the latest deal, Metal Expert’s Benelux export scrap price assessment
for HMS 1&2 (80:20) declined by $2/t to $375/t CFR Turkiye over the week.
Metal Expert’s daily price assessments for HMS 1&2 (75:25) and HMS 1&2 (80:20)
are $347/t FOB Rotterdam and $352/t FOB Rotterdam respectively, down by $1/t
w-o-w.
Buying interest from Asian scrap importers stayed poor, with prices being under
downward pressure. In Pakistan, offers from European scrap suppliers for shredded
material lost $15‑17/t, coming to $415‑418/t CFR over the week. Despite the low-
er prices, only a sale for 1,000 t of shredded scrap at $417/t CFR from EU/UK to
Pakistan was heard.
Offers to the Indian market were absent this week from Europe as the customers
were reluctant to book additional volumes. A few bids for shredded scrap were
indicated below $415/t CFR India, while a week ago, a contract for US material was
signed at $425/t CFR, Metal Expert reported.
Despite low demand in major outlets, Benelux dockside tags were broadly un-
changed in mid-May within EUR 310‑315/t delivered ($338‑343/t delivered;
EUR 1 = $1.09), Metal Expert has learnt. “Domestic scrap demand and prices are
good enough, collection stays low, that is why we are not in a hurry to decrease
offers to Turkiye or elsewhere,” a European scrap exporter told Metal Expert.
Back to top
In brief: Assofermet changes leadership

Europe / Flat Products, Long products
Assofermet, Italian association of metals, scrap and hardware distributors, appoint-
ed Cinzia Vezzosi as president and Michele Ciocca as vice president of the associ-
ation. Paolo Sangoi has been reappointed as president of Assofermet Acciai, the
associations’s steel division, and Davide Ferrari as his deputy.
“We will continue to demonstrate our commitment to issues of CBAM, safeguard
measure, scrap exports and the other topics that have already seen us very active
in the last three years. We will maintain and strengthen our institutional channels
both at national level, with the Ministries with which we are in constant dialogue,
and at European level, with the federations and institutions of the European
Union,” Vezzosi said in Assofermet’s press release.
Back to top
Americas
Americas
In brief: ArcelorMittal to upgrade Tubarao steel plant
Americas / Flat Products
Brazil’s ArcelorMittal Tubarao elected Danieli to supply a new secondary metallur-
gy station for its Tubarao integrated steel plant in Serra, Espirito Santo state. The
equipment will be used to produce Usibor steel grades for automotive applications.
The company ordered new twin-ladle furnace station, which will be placed in the
meltshop bay between converters and continuous casting machines to complete
the refining area, remove sulphur contents and make quality adjustments to the
steel bath, according to the official statement. Besides, the order consists of new
fume-treatment plant, new water-treatment plant and new compressed-air plant,
Metal Expert learnt.
ArcelorMittal Tubarao is focused on flat steel products and has an installed capaci-
ty of 7.5 million tpy.
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In brief: Canada may extend duties on welded pipe imports from four countries
Americas / Tubes & Pipes
The Canada Border Services Agency (CBSA) concluded expiry review investigation
in relation to imports of certain carbon steel welded pipe originating in or export-
ed from Pakistan, the Philippines, Turkiye and Vietnam. The CBSA has determined
that “the expiry of the finding is likely to result in the continuation or resumption
of dumping” of such goods originating in or exported from above-mentioned four
countries, according to the official statement. Now the Canadian International
Trade Tribunal will determine whether the expiry of its finding is likely to result
in injury to the domestic industry; the decision is to be announced no later than
October 16, 2024, Metal Expert learnt.
The current antidumping duty, effective from January 2019, is 66.8% on welded
pipes from Pakistan and the Philippines, 54.2% for Vietnam and 45.8% for Turkiye.
Back to top
World
World
Freight market overview // 20th week 2024
World / Freight
There is no light at the end of the tunnel in the small-tonnage freight market, es-
pecially in the Black Sea and Mediterranean markets. Ship owners are more often
discussing putting vessels on lay-up, but in the vast majority of cases they choose
to hold on, expecting the market conditions to improve in 1.5‑2 months with the
start of the new grain season.
The already weak cargo flow in the Mediterranean Sea slightly decreased further
during the reporting week. Freight rates in both basins dropped by another $0.5‑1/t
at the end of the week. Moving 5,000‑6,000 t of steel from Reni or Izmail to Tunisia
now costs $28‑29/t and to Marmara – $20/t. The price for shipping 3,000 t of rolled
steel from Chioggia to Algeria is $25‑26/t. Transportation of 5,000 t of rolled steel
from Barcelona to Marmara costs EUR 26‑27/t.
The situation for coaster fleet owners in the north of Europe also continues to
deteriorate. The imbalance between tonnage and cargo is aggravating, which
puts pressure on freight rates. Quotes on all key directions decreased by another
EUR 0.5‑1.5/t. The cost of carrying 4,000 t of scrap from Klaipeda to the north of
Spain dropped to EUR 34/t.
Azov market was the only one where freight rates increased by $1‑2/t during the
reporting week. In ISM’s opinion, this was somewhat unexpected for most market
participants and may be due to a certain positional increase in activity after a se-
ries of holidays in Russia. Price for delivering 3,000 t of steel scrap from Rostov to
Marmara rose to $38/t.
Cargo Lot, t Loading port Country Discharging port Country Rate, $/t W-o-w
Black Sea
square billet 5,000‑6,000 Reni/Izmail Ukraine ports of Marmara Sea Turkiye 20 –1
iron ore concentrate 70,000 Constanta Romania northern ports China 49‑50 –1
Azov Sea
scrap (sf 56‑58’) 3,000 Rostov-on-Don Russia ports of Marmara Sea Turkiye 38 +2
Mediterranean basin
steel products 5,000‑6,000 Barcelona Spain ports of Marmara Sea Turkiye EUR 26‑27 =
Baltic Sea and North Sea
Netherlands
flat products 4,000 St. Petersburg Russia Rotterdam (Antewerp) EUR 41‑42 –1
(Belgium)
Netherlands
pig iron 3,000 Riga Latvia Rotterdam (Antewerp) EUR 26‑27 =
(Belgium)
Netherlands
scrap (sf 55‑60’) 3,000‑5,000 St. Petersburg Russia Rotterdam (Antewerp) EUR 50‑51 –1
(Belgium)
L/D rates as per standard practices in ports. Terms FIOS 1/1.
For more information on freight rates and cargo transportation see (https://ismreport.com).
Back to top
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Metal Expert

Ferrous futures increase slightly again as China announces more stimuli

More ex-US scrap sales to Turkiye disclosed

More sales registered in Turkish billet market

Turkish HRC segment in limbo in mid-May

Europe absorbs most of Turkish HR exports in March

BMS Wire completes foreign trade company establishment

Turkiye’s residential sales keep sliding

IGISCO close to launching pellet production in Bahabad

Asian traders purchase Indonesian billet at lower levels

Indian market assesses impact of BIS renewal for Vietnamese HRC

Iron ore rises on government property sector incentives

Chinese sellers hike HRC offers to Vietnam

Australian coking coal falls on sluggish buying

Vietnamese import scrap market weakens

Commodity/specifications Origin/supplier Consumer Volume, t Price & delivery terms Details

Daily price assessments for steel products and raw materials

Weekly price assessments for steel products and raw materials

Commodity Country Currency, delivery term May 17, 2024 W-o-w

Major steel and raw materials futures in China

Products Exchange Delivery month Currency Price Change, d-o-d

More sales registered in Turkish billet market

Turkish HRC segment in limbo in mid-May

Europe absorbs most of Turkish HR exports in March

Top‑10 Turkish HR flats buyers, t

BMS Wire completes foreign trade company establishment

Turkiye’s residential sales keep sliding

IGISCO close to launching pellet production in Bahabad

Indian market assesses impact of BIS renewal for Vietnamese HRC

Iron ore rises on government property sector incentives

to better margins. 115

In addition, trading activity shrank amid a price rise, with 114

Chinese sellers hike HRC offers to Vietnam

On Thursday, Chinese exporters raised their HRC prices to Vietnam by $10/t, in

Australian coking coal falls on sluggish buying

Vietnamese import scrap market weakens

Russian HRC export prices strengthen in new sales

Yakovlevsky GOK increases sinter ore mining capacity

In brief: Welded tube imports in Ukraine rise in April

Spain’s rebar export prices stabilise, wire rod goes up

Italian wire rod producers still struggle with price increase

Benelux scrap inches down, exporters resist major discounts

In brief: Assofermet changes leadership

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