December 2023

Chinese HRC prices rise on deposit rate cuts, production cuts

Chinese hot-rolled coil prices continued to rise on Friday December 22, bolstered by higher steelmaking costs, production curtailment and deposit rate cuts by Chinese banks, sources told Fastmarkets.

10 key themes for steel & ferro-alloys in the new year: 2024 preview

The steel industry has long been a symbol of global economic might. But as we peer into 2024, the landscape appears more nuanced than ever. Gone are the days of breakneck Chinese growth that fueled a seemingly insatiable demand for steel. Today, a complex interplay of geopolitical tensions, squeezed steelmaking margins and growing recognition of sustainability paints an uncertain picture.

Turkish steel market braces for higher shipping costs after hijack of vessel from South Korea

A Maltese-flagged ship carrying flat steel from South Korea’s Posco to Turkish buyers was hijacked by Somali pirates on December 15, according to a release by the European Union Naval Force on Tuesday December 19 — and market participants believe costs could rise as a result.

Asia’s green steel opportunities, evolving trade patterns the focus in Year of Dragon: 2024 preview

While navigating the Asian steel markets in 2024, market participants will come up against both supply chain bright spots and demand uncertainty characterized by a sluggish Chinese property sector and green steel pressures.

Turkey’s Habas to start producing tinplate, cold-rolled coil

Turkish flat and long steel producer Habas ordered a tinplate and cold-rolled coil production mill, equipment supplier Danieli announced on Wednesday December 20.

European HRC market slows ahead of holidays, prices flat

Prices for hot-rolled coil in Europe were flat amid muted pre-holiday activity on Thursday December 21, with sentiment for January cautiously optimistic despite consumption woes, sources told Fastmarkets.

European CRC, HDG producers aim for higher prices; slow end-user demand seen as key obstacle

European steelmakers have been aiming for higher prices for cold-rolled (CRC) and hot-dip galvanized (HDG) coils amid increasing costs and limited supply, but buyers are reluctant to accept higher offers, citing slow consumption, sources told Fastmarkets on Wednesday December 20.

Three things that will change for global steel markets next year - and three that won’t: 2024 preview

The landscape surrounding the steel markets is set to shift in 2024, but will some things really change? We explore three potential twists that could reshape the steel market, alongside three things that probably won't budge.

Chinese HRC prices extend gains on high raw materials costs

Chinese hot-rolled coil prices extended their rally on Thursday December 21, bolstered by strong prices for steelmaking raw materials, sources told Fastmarkets.

European HRC producers aim for substantial rises in Q1 2024, subdued demand seen as major concern

European hot-rolled coil producers are seeking substantial price increases for the first quarter of 2024, but slow consumption remains the biggest concern, sources told Fastmarkets on Wednesday December 20.