New duty regime in India
The Indian government has waived import duties on some key steel-making raw materials like coal and imposed the export duties on iron ore and steel products. The new duty regime has come into effect on the night of May 22, according to a government notification. The Indian government reduced import duty on ferro-nickel, coking coal from 2.5 percent to nil and that on coke and semi-coke from 5 percent to nil to bring down cost of production of steel... Read More
Short Range Outlook : May 2022
Global longs market faces challenges and uncertainties amid ongoing war in Ukraine Some oversupply is observed here and there in the global long steel products market. The market situation is getting worse. In particular, there is a vacuum in Western markets due to the war in Ukraine. Price hikes were very rapid and very steep, which could be a reason. Energy prices have negatively impacted manufacturing, especially in Europe. Inflation is another... Read More
The program of the 86th meeting in Istanbul
Day 1: Sunday, May 29,2022 19:00 – 22:00 Welcome cocktail at Four Seasons Hotel Bosphorus Istanbul Day 2: Monday, May 30, 2022 09:00 – 09:15 Welcome address by Chairman of IREPAS 09:15 – 10:00 SESSION ONE: Critical changes in global long steel markets - Long products market outlook Overview of global construction... 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
Short Range Outlook : February 2022
Global longs market boosted by improving demand and many positive factors Demand is picking up in the global long steel products market after the holidays and it will be even better once the weather becomes warmer in the northern hemisphere. It seems the market is getting back to normal. Section 232 is practically over. General demand is strengthening with the pandemic possibly coming to an end. Bottlenecks seem to be easing somewhat, such as breakbulk... Read More
Short Range Outlook : December 2021
Demand slows in global longs market, higher costs to reduce price erosion Demand is slowing down in the global long steel products market as we have entered the slow season in the northern hemisphere and the holidays are approaching. Market activity may remain slow until the Chinese New Year holidays and so we may see further price erosion in the coming weeks. However, such erosion should be limited due to higher costs of production. There is an energy... Read More
85th IREPAS meeting : Markets have never been better, great time to be in steel business
The 85th meeting of IREPAS (the International Rebar Exporters and Producers Association) was held as a virtual event to ensure the health and well-being of all participants, on October 18, 2021 in conjunction with the SteelOrbis Fall’21 Conference. There were 223 producer representatives among the 918 registered delegates from a total of 70 different countries. There were also 69 registrations representing 31 different raw material suppliers. At... Read More
Short Range Outlook : October 2021
Demand to be driver of global longs market from now on, supply no longer an issue Supply is no longer an issue in the global long steel products market, and demand will be the driving factor from now on, though it will probably be rather slow for a while because prices are normalising and delivery periods are becoming shorter. That said, this situation should be temporary. The cost of producing steel is increasing, especially on the energy side. Demand... Read More
Short Range Outlook : June 2021
Boom continues in the global longs market, how long will it last? There is still a shortage of steel everywhere in the global long steel products market. Demand remains high in the sheltered markets. On the other hand, there is pressure from the Chinese government to reduce steel prices. It is hard to imagine that this will lead to anything but more supply shortages. If we look back at the previous price booms in the global market, circumstances... Read More