December 2023

CSN predicts lower appetite for Chinese steel exports, favorable scenario for Brazilian industry in 2024

Brazil’s Companhia Siderúrgica Nacional (CSN) expects Chinese steel exports to the country to fall in 2024 and contribute to a recovery in margins and perhaps even steel prices, commercial director Luis Fernando Martinez said on Thursday December 14.

Vietnam’s Formosa Ha Tinh hikes domestic HRC prices; import prices up

Prices of hot-rolled coil in the key import market of Vietnam rose during the week to Friday December 15 due to price hikes by Vietnamese steelmaker Formosa Ha Tinh Steel.

Chinese HRC prices fall despite property support

Chinese hot-rolled coil prices moved lower on Friday December 15, despite authorities’ latest attempt to underpin the property sector.

Liberty reignites some blast furnaces in Europe, power supply issues in Ostrava might threaten restart

Steelmaker Liberty Steel restarted one blast furnace (BF) in Europe in December and plans to restart another one in January, a company spokesperson told Fastmarkets on Thursday December 14.

European green steel premiums narrow upward despite limited demand; sources say government initiatives needed to spur buying

Premiums for flat green steel in Europe narrowed upward over the past week, despite limited demand; sources see potential for demand to increase next year but claim that government support is essential for that, Fastmarkets heard on Thursday December 14.

European HRC market quiet, prices mostly flat but buyers expect some mills to push for more rises before Christmas

The European hot-rolled coil market was quiet on Thursday December 14 amid the seasonal slowdown and limited demand, but sources expect some mills to announce new price rises before the Christmas break.

Chinese crude steel output falls in early December due to anti-smog restrictions

China’s crude steel output shrank in early December due to the imposition of anti-smog restrictions in part of the northern region of the country and the start of year-end maintenance at some mills, market participants told Fastmarkets on Thursday December 14.

Egypt’s Ezz Steel forecasts 17% decline in local steel consumption in 2023, rebound in 2024

Ezz Steel, Egypt’s biggest steel producer, expects domestic consumption of long and flat steel products will decline by 17% year on year in 2023, it said in its third-quarter report published on Tuesday December 12.

Chinese HRC prices rise thanks to earlier SHFE gains

China’s domestic spot hot-rolled coil prices moved higher on Thursday December 14, thanks to earlier gains in futures prices for the flat steel product, sources told Fastmarkets.

Higher import duty could affect LatAm ops; market share not threatened: SSAB

A possible import duty increase in Latin American countries would affect Swedish steel company SSAB’s profits in the region, but should not affect its market share, because demand for high-strength steel will remain high, the company told Fastmarkets in an interview on December 5.