Daily Steel News - 5 Mar 09

Taiwan’s rebar prices reach bottom
Taiwan’s rebar prices seem to reach the bottom level, as the current rebar price is being quoted at NT$13,500/ton, while the domestic billet price has settled at NT$12,000/ton. Some buyers even try to negotiate the price at NT$15,000/ton for rebar, but that is not acceptable for the mills. It is said that the rebar price is being settled at NT$11,800/ton, which is the bottom price for mills.

Ukraine's billet prices to keep falling
Ukrainian square billet has slid by US$50/ton to US$310~320/ton FOB however, the buyer from Turkey reportedly has placed order with 10,000 tons of square billet at US$310~315/ton FOB from Ukraine.In Asia market, the price of intermediate square billet releases from Russia and Ukraine hit CFR US$355-360/ton.

Russian scrap production to decline
Mr. Viktor Makushin, president of MAIR Group, the biggest scrap company in Russia, said that the domestic scrap market was in heavy stagnation as sluggish steel demand can’t support the scrap market.The current scrap price was being prevailing at US$150~180/ton, while it was US$300~400/ton in last year.

Indonesia to impose new rule on steel imports
Indonesian to limit importing 202 series of steels in order to protect domestic steels makers and it will be effective from April 1. All imported 202 grade steels must gain import approval certificate and submit all documents to the government. The regulation applies to protect all 202 listed domestically produced steel products including HRC. This new policy would be applied on the steels imported from those countries, which have signed trade agreements such as China, Japan, Australia, India and Russia.