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Kallanish Kallanish

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July, 5th 2020

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Weekly Steel

Issue34-18 Aug. 28, 2018

Kallanish Weekly Steel: Uncertainty continues as credit rating agencies downgrade Turkey

Two major credit rating agencies have downgraded their ratings for Turkey due to the country’s increasing financial stress and a’ perceived inadequate response from policymakers.

Moody’s has downgraded Turkey’s long-term issuer ratings to Ba3 from Ba2 and changed its rating outlook to negative, concluding the review for downgrade that was …

Issue33-18 Aug. 21, 2018

Kallanish Steel Weekly: Global markets continue to evaluate effects of Turkish crisis

August is usually a relatively calm month for the global steel markets as most of the main producer countries take an annual summer break. This year, nevertheless, the announcement by the US authorities of the decision to double the import tariffs for steel and aluminium for Turkish products forced many …

Issue32-18 Aug. 7, 2018

Kallanish Steel Weekly: Billet prices drift despite stable iron ore

CIS billet prices remained stable last week, but the market continues to be described by traders as “... drifting.” Since the end of July Black Sea export prices for billet have stabilised at $500/tonne fob, close to the annual lower-end reached in late January this year.

Historically billet prices are …

Issue31-18 July 31, 2018

Kallanish Steel Weekly: Iron ore/scrap differential drops, raw materials diverge

As anticipated, last week iron ore firmed further while scrap reached the lowest point registered so far in 2018. The diverging trends of the two raw materials has reduced the differential, this having been at record levels for most of the current year.

Iron ore once again rose above the …