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A contract for Japanese scrap was concluded to be shipped to South Korea. It is reported that buyers of scrap are expecting they would get discount, but the prices remained unmoved.

The scrap market in Turkey currently has minimal business activity. Currently, the price for import scrap is currently stable but the mills are waiting for the prices to go down further due to the decline in the deal prices reported last week.

Markets participants are expecting that the stainless steel production in China will likely to drop this April due to the planned reduction in production by small and medium sized local mills.

Due to higher cost for raw material, the export prices for steel flat products from China continue to rise.

After the new year holiday in Iran last week, the market situation have started to improve. Locally produced billets with 120mm is being traded at $639-647/mt on ex-works basis including 8% VAT. Prices are continuously going up and went to $655-659/mt on t

Hebei Steel, one of China’s major steel producer, has released its price list for rebar for mid-April.