Turkish mills concluded numerous imported scrap during the last weeks. Although scrap suppliers were expecting prices to exceed $500/tonne cfr for HMS 1&2 80:20, this has not materialised, mainly because of lower-than-expected demand and a large number of offers in the market.

Demand has remained below expectations because Turkish mills …

Last week CIS billet prices remained stable again, confirming the global uncertainty for the future direction of steel prices. The latest measures aimed at reducing exports, both in China and Russia, are expected to support global prices in the near future, but other factors could limit the positive trend.

CIS …

The Russian government is preparing to implement additional duties on steel and non-ferrous metals exports from 1 August for six months.

Russia’s economic development ministry has prepared a draft document in which it makes corrections to the HS code description of various metal goods, and adds a 15% export duty …

The US’ 232 tariffs on European Union members could go away by the end of the year, according to a joint statement released by the two government bodies.

The prospective deal will build on the understanding already reached for large civil aircraft - an aluminium-centric deal.

“We are committed to …