October 2023

Mexican steel scrap prices remain stable despite buyers’ push for cuts

Mexican steel scrap prices remained mostly unchanged in the week ended on Friday October 27, with the market showing signs of stability after a series of price cuts.

Scrap trade facing 'de-globalization' despite EU regulatory delays: BIR 2023

The trade of scrap metal is moving rapidly towards greater protectionism even if regulatory uncertainty in the EU is looming ever larger, according to attendees at the Bureau of International Recycling (BIR) conference in Abu Dhabi, United Arab Emirates, on October 23-25.

Turkey decides to continue anti-dumping duty on Chinese heavy steel plate

Turkey’s Ministry of Trade has decided to continue to impose anti-dumping duty on imports of heavy steel plate from China, according to an announcement in the Turkish Official Gazette on Tuesday October 31.

Yemen gains importance as steel scrap seller to India amid UAE export ban: BMR 2023

Yemeni suppliers of steel scrap were seeing a spike in the levels of interest in India for their material, because of the tighter restrictions on the exports of scrap shipments from the United Arab Emirates (UAE), sources said at the Bureau of Middle East Recycling (BMR) conference in Dubai on October 20-21.

UG2/MG chrome prices slide further amid bearish ferro-chrome sentiment

An overview of the chrome ore and alloy markets globally and their latest price moves in the period to Tuesday October 31.

Domestic rebar, billet prices stable in UAE; reports of imports from Iran, Oman

Domestic steel billet and rebar prices in the United Arab Emirates remained unchanged again in the week ending Tuesday, October 31, but imports of billet from Iran and rebar from Oman were heard, sources told Fastmarkets.

Eurofer once again downgrades steel consumption outlook in Europe for 2023

European regional steel industry association Eurofer has once again lowered its outlook for apparent steel demand in the region for 2023, it announced on Monday October 30.

Turkish mills keep deep-sea scrap purchases limited due to weak steel sales

Turkish steel producers continued to keep their deep-sea scrap purchases to a minimum on Tuesday October 31, due to weak finished steel sales, sources told Fastmarkets.

HRC prices in Europe trend higher on increased offers

European hot-rolled coil prices edged up on Tuesday October 31 on higher offers, but sources told Fastmarkets that buyers doubted the sustainability of the uptrend, especially given the acute lack of consumption.

Weaker year-end outlook weighs on iron ore prices [corrected]

Iron ore prices ended their recent uptrend on Tuesday October 31, in response to a weaker outlook for the steel market for the rest of 2023 - despite firm interest in November/December-arrival cargoes and strong buying in China's portside market, sources told Fastmarkets.