Turkey restricts exports to Israel
Turkey’s Ministry of Commerce has announced that it has restricted the exports of 54 product groups to Israel, which continues to violate international law with its attacks on Gaza in Palestine since October 7, 2023. No details regarding these restrictions, which came into force as of today, April 9, have been disclosed yet. The restricted products include reinforcing bars, wire rods and flat steel products, as well as steel pipes and fittings,... Read More
EU extends duty suspension for Ukrainian products for another year
The European Council has renewed the regulation regarding the suspension of all customs duties, quotas and trade defense measures on Ukrainian exports to the EU for another year, until June 2024, effective from June 6. The regulation was adopted in June last year. The renewal will help Ukraine to maintain the stability of its trade relations with the EU and to keep its economy going under very challenging circumstances. Read More
Canada banned the import of all Russian aluminum and steel products
Canada banned the import of all Russian aluminum and steel products in a move that Ottawa said was aimed at denying Russia the ability to fund its war against Ukraine. The ban covers both finished and unfinished products according to the statement. Read More
Short Range Outlook : December 2022
First quarter of 2023 could be very difficult for global long products market Raw material costs are increasing once again and energy prices are expected to be very high at least until March 2023. Mills are facing cost pressures once more in the global long steel products market. Business activity has been reduced during the past month and, even though scrap and iron ore prices have gone up, net margins have either at best kept pace or in some cases... Read More
Short Range Outlook : November 2022
Demand at crisis levels in global longs market, unlikely to improve in coming months Demand in the global long steel products market is either very low or there is no demand at all, depending on the region. Overall demand is less than real supply and possible supply increases. The demand for ferrous materials has also slowed down considerably as industrial outlooks have lost visibility. Energy cost uncertainty and the destruction of demand have led... Read More
IREPAS in Monaco: The current crisis is a once-in-a-generation event
The 87th meeting of IREPAS (the International Rebar Exporters and Producers Association) was held in Monaco, on October 9-11, 2022, in conjunction with the SteelOrbis Fall ’22 Conference. There were 108 producer representatives from 40 different companies among the 407 registered delegates from a total of 48 different countries. There were also 69 registrations representing 43 different raw material suppliers. At the opening of the conference, Murat... Read More
Short Range Outlook : April 2022
War in Ukraine a major gamechanger for global longs market The war in Ukraine has changed sentiment in the global long steel products market as well as fundamentally altering the flow of raw materials and finished products almost overnight. There is more demand than secure supply in the market. Before the war, the expectations were that demand would determine the direction of prices, contrary to 2021 when supply was the driving factor. Today, however,... Read More
Short Range Outlook : March 2022
Global longs market at unprecedented juncture after Russia’s invasion of Ukraine The global long steel products market has entered a new and completely unprecedented situation as a result of the war in Ukraine. The current situation means one of the largest suppliers of many raw and semi-processed materials will be completely excluded from the market for an unforeseeable period of time, with the consequences being almost impossible to predict at... Read More