May 2023

Russian domestic steel market muted; rebar prices decrease

The Russian domestic steel market was muted in the week to Tuesday May 30 while rebar producers lowered their offers, Fastmarkets heard.

European HRC prices expected to sink lower in June, sources say

Buyers and sellers of hot-rolled coil in Europe continued to hold back from trading on Wednesday May 31, while the outlook for June remains bearish, sources told Fastmarkets.

Slow buying acts as a drag on heavy steel plate prices in Europe

Steel plate prices were stable to slightly lower in across Europe in the week to Wednesday May 31, amid subdued demand and pressure from imports, with sentiment the month ahead largely downbeat, sources told Fastmarkets.

Chinese HRC prices widen down after release of dismal PMI data

China’s domestic hot-rolled coil price widened down on Wednesday May 31, after the latest economic indicators pointed to continued weakness in demand.

Russian export prices on steel HRC, slab soften on weak buyer markets, lower offers from China

The export markets for Russia-origin steel hot-rolled coil and slab were quiet over the week to Tuesday May 30 on softening domestic markets for HRC in Turkey and heavy steel plate in Italy, as well as the availability of lower offer prices from China.

Flat steel import prices to the UAE and Saudi Arabia decrease; buyers hesitant to book

Import prices for flat steel into the United Arab Emirates and Saudi Arabia decreased during the week ending Tuesday May 30. Buyers were hesitant to book material because of the upcoming holiday season and price decreases, sources told Fastmarkets.

Chinese CRC, HDG export prices fall to six-month lows with trading remaining weak

Export prices for Chinese cold-rolled coil and hot-dipped galvanized steel coil continued to fall in the week to Tuesday May 30, with fears of more price losses and continued weakness keeping trading muted.

Trading remains dull in European HRC market, buyers wait for price to hit floor

Commerce remained quiet in the European steel hot-rolled coil markets on Tuesday May 30, with only sporadic trading reported, Fastmarkets has heard.

China steel plate export prices down amid weak demand

Export prices for Chinese heavy steel plate further dropped in the week to Tuesday May 30 due to weak demand from overseas markets and a continuous decrease in domestic prices, sources told Fastmarkets.

Pessimistic sentiment drags down Chinese HRC prices, demand

Chinese hot-rolled coil prices fell on Tuesday May 30 amid weaker demand due to market participants’ bearish outlooks on demand recovery.