Metal Bulletin reviews the major stories that have affected the steel market over the past week.
Turkish scrap import prices recovered this week on steady demand from the country's steel mills. This was due to bullish sentiment in the markets arising from the United States' decision to impose its Section 232 import tariffs on material from the EU, Canada and Mexico.The US import pig iron market improved on rising scrap prices and the continued uptrend in the finished steel products markets - hot rolled coil (HRC), in particular.China's domestic and export prices for coke have continued to rise over the past two weeks, but resistance to further increases is growing.The seaborne iron ore concentrate and pellet markets continued to strengthen, driven by stricter environmental regulations in China and strong demand.Price negotiations for pig iron exports from the Commonwealth of Independent States have begun again...