European flat steel webinar

Prices for imported flat-rolled steel into the US were largely stable on Wednesday November 20, with market participants reporting thin trading and long lead times deterring them from engaging in the foreign markets.

A California federal jury has issued a $110 million anti-trust verdict against Commercial Metals Company on November 5, finding the Texas-based rebar producer liable for multiple anti-trust violations, while awarding Pacific Steel Group (PSG) millions of dollars due to lost profits and additional damages.

Asian steel hot-rolled coil prices have had difficulty rising in recent weeks due to a number of major themes in the market, sources told Fastmarkets.

China’s domestic and export steel hot-rolled coil prices rose on Monday October 28, reflecting a robust performance in the futures market, but the upward price movement did not translate into increased demand.

Chinese stainless steel prices fell in the week ended Wednesday October 23 in both the domestic and export markets, in response to weak demand and lower-cost raw materials, sources told Fastmarkets

Nickel pig iron (NPI) prices in China continued to climb in the week to Friday October 18, on an increase in tradbg amid positive sentiment, sources told Fastmarkets.