Market News

  • BCSA Publishes No-deal Brexit Conformity Guide

    • The British Constructional Steelwork Association (BCSA) has published a guide outlining how the steel construction sector can meet the requirements of UKCA Marking in the event of the UK exiting the European Union (EU) with no deal. Should a no-deal exit occur, the government will immediately introduce UK Conformity Assessed Marking (UKCA Marking) on exit […]

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  • Downturn in EU Manufacturing Sector Suppresses Steel Demand

    • Activity in the EU strip mill product market was muted during the summer holidays. Numerous supply chain participants remarked that conditions were quieter than usual for the time of year. In early/mid-September, the market remained subdued. Procurement by distributors is still weak, due to concerns about their own tight resale margins. Overall demand indicates little, […]

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  • US Steel Prices Rebound in August

    • US flat product steelmakers are bucking the seasonal price trend, by pressing for a rise in local values, despite the summer lull in activity. Domestic suppliers, in an attempt to stave off the threat of further losses, introduced a series of list price hikes, during the July/August period. Local mills had little option but to […]

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  • New World Record High for Stainless Steel Output in 2019

    • Global crude stainless steel production is predicted to reach a new record annual total of 53.1 million tonnes, in 2019. This would exceed the previous high figure, set last year, by more than 4.6 percent. Despite strong expansion in emerging countries, such as India and Indonesia, Chinese growth continues to outstrip the world average. MEPS’ […]

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  • Low Seasonal Demand Impedes Steel Price Growth in Emerging Markets

    • The prognosis for the Brazilian steel market is unchanged. Distributors plan to persevere with conservative inventory levels, reflecting a seasonal slowdown in end-user demand. Shipments to companies in construction related activities is weak. Steel price support from export demand is limited. In Russia, steel consuming engineering and manufacturing firms are reluctant to increase production capacity […]

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  • Tata Steel workers lose faith in Thyssenkrupp deal: works council

    • European workers at India’s Tata Steel no longer believe that a joint venture with Thyssenkrupp is in the best interests of the company, the European works council said in a statement. The two companies agreed last year to combine their European steel activities, a move that would create the continent’s second-largest steelmaker but still needs […]

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  • Uncertainties Plague EU Steel Market – MEPS

    • Strip mill product basis prices began to stabilise in southern Europe, in April, whilst small downward corrections were noted in the north. Overall demand, in the region, is subdued. Sentiment is poor – badly affected by the ongoing reduction in orders from the automotive sector. Moreover, in many countries, concern exists about Brexit, especially if […]

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  • Further World Stainless Steel Production Records Forecast

    • Worldwide crude stainless-steel production, in 2018, reached an all-time high total of more than 50.7 million tonnes. This represents an increase of 5.5 percent, compared with the year earlier figure. MEPS predicts that global output will grow by approximately 4 percent, in 2019, to achieve a new record high mark of around 52.7 million tonnes. […]

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  • Section 232 Creates Boom and Bust in US Steel Prices

    • While US steel selling values continue to be amongst the highest in the world, domestic steelmakers have lost a large part of the pricing gains they secured in late 2017/early 2018. It is widely accepted that US steel producers capitalised initially, on the speculation, and then the implementation of strong import protection measures, in March, […]

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  • British Steel gets £100m government loan to pay carbon bill

    • British Steel has secured a £100m loan from the government to pay its EU carbon bill, a source close to the company has said. The money means the private equity-owned firm will avoid a steep EU fine. The firm said earlier this month it needed the funds to settle its 2018 pollution bill due at […]

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