[Ferro-Alloys.com] Export prices for Chinese cold-rolled coil and hot-dipped galvanized coil were unchanged over the past week with steelmakers focused on selling their products to the more lucrative domestic market.
Ukrainian mining and steelmaking group Metinvest has lowered its 2019 steel production outlook by 500,000 mt, due to the overall "difficult" market conditions, CEO Yyriy Ryzhenkov said.
"Demand for steel is at the bottom of a downturn cycle and we do hope for a recovery that nevertheless we don't see coming yet. Prices for finished steel products are likely to rebound but not before Q1-Q2 while, regarding iron ore prices, I think prices will continue to stay in the range they are now," Ryzhenkov added.
Despite dropping metallurgical coal prices, Arch Coal had a stronger-than-expected third quarter as it increasingly focused on its met segment, executives said during the producer's third-quarter earnings call.