CIS billet prices remained stable last week, but the market continues to be described by traders as “... drifting.” Since the end of July Black Sea export prices for billet have stabilised at $500/tonne fob, close to the annual lower-end reached in late January this year.

Historically billet prices are …

As anticipated, last week iron ore firmed further while scrap reached the lowest point registered so far in 2018. The diverging trends of the two raw materials has reduced the differential, this having been at record levels for most of the current year.

Iron ore once again rose above the …

Last week the global raw materials market remained stable as the relative quietness of August approaches and views on the market regarding the developments of prices in the next weeks are mixed. Iron ore closed last week at slightly below $64/t CFR Qingdao having continued to be range-bound at $62-64/t …

On  11 July, the US announced plans to impose 10% duties on another $200 billion of Chinese goods. These could impact some 3 million tonnes/year of demand for Chinese steel, far more than the section 232 tariffs. The more important impact may still lie in China’s response, which could boost …