December 2023

Chinese HRC prices rise to four-month high on rekindled stimulus hopes

Chinese hot-rolled coil prices extended their gains, hitting a four-month high on Thursday December 7, thanks to the sustained support from raw materials costs and the resurgence of expectations for big stimulus measures, sources told Fastmarkets.

China's November finished steel exports robust, underpin domestic steel prices

China's finished steel exports remained higher year on year, with the January-November export total rising by 36% from the corresponding period of 2022, according to data released by the General Administration of China Customs on Thursday December 7.

Trading slow in European HRC market, but mills maintain high offers

European prices for steel hot-rolled coil were largely flat on Wednesday December 6, with trade slowing down and buyers becoming cautious about the sustainability of prices in the first quarter of next year, sources told Fastmarkets.

Turkish flat steel prices increase in November on rising raw material costs, limited imports

Prices for flat steel increased in Turkey during November because of higher raw material costs and decreasing demand for imports, sources told Fastmarkets on Wednesday December 6.

Trading slows down in Italy’s steel heavy plate market, but sentiment remains upbeat

Steel heavy plate prices in Italy trend slightly higher in deals, but overall market activity slows down ahead of holiday season, so further rises are seen as unlikely, source told Fastmarkets on Wednesday December 6.

Chinese crude steel output rises in late Nov after mill margins improve

China’s crude steel output rose in late November after margins across steel mills improved on a rally in finished steel prices, market participants told Fastmarkets on Wednesday December 6.

Chinese HRC prices rise following ferrous futures rally

Spot prices for Chinese hot-rolled coil rose on Wednesday December 6, following a rally across futures prices for ferrous products, sources told Fastmarkets.

Prices stable in European steel HRC markets; bullish sentiment continues

European prices for steel hot-rolled coil remained largely stable on Tuesday December 5 amid unchanged market conditions, Fastmarkets heard.

India, Japan absence from import market causes HRC shortage in UAE

The absence of India and Japan from the hot-rolled coil import market in the United Arab Emirates has caused a shortage of the product, sources told Fastmarkets on Tuesday December 5.

Chinese CRC, HDG export prices steady after SHFE stems rally

Export prices for Chinese cold-rolled coil and hot-dipped galvanized steel coil were unchanged in the week to Tuesday December 5, after steel futures prices stemmed their rally and the yuan’s appreciation trend came to a halt.