May 2023

Salzgitter orders DRI plant in major step toward green steel transition

German steelmaker Salzgitter has taken a major step toward implementing its Salcos greensteel project by finding a contractor for the construction of a direct-reduction iron plant on the site of its Flachstahl integrated steelworks, Fastmarkets heard on Wednesday May 24.

Persisting bearish sentiment pervades European HRC market

Conditions in the European hot-rolled coil market remained depressed on Thursday May 25, amid slow demand and bearish sentiment among buyers and sellers alike.

Chinese HRC prices continue to slide on lingering demand concerns

Chinese hot-rolled coil prices continued to decline on Thursday May 25, falling to their lowest level since early November 2022, with dismal industry data adding to market bearishness in the run-up to the seasonal lull in consumption.

European steel CRC, HDG prices trend lower, but trading still subdued

Some European steel mills issued new offer prices for September-delivery cold-rolled coil and hot-dipped galvanized coil during the week to Wednesday May 24, but the market has remained largely inactive due to prevailing downbeat sentiment and aggressive import offers, sources have told Fastmarkets.

China HRC exports to Vietnam down 50% in April, buyers in Europe stay on sidelines

China’s exports of hot-rolled coil to Vietnam almost halved month on month in April 2023, while falling prices and weaker demand in Europe kept buyers there on the sidelines.

HRC prices fall in Italy, trading still frozen in Northern Europe

Hot-rolled coil prices fell in Italy but were relatively flat in Northern Europe on Wednesday May 24 after most steel mills maintained their absence from the market, sources told Fastmarkets.

Turkey receives lower HRC offers from China

Turkish importers of hot-rolled coil have received lower offers from China in recent days, sources told Fastmarkets on Wednesday May 24.

European heavy steel plate prices dip, tracking downtrend in raw materials, slab

European heavy steel plate prices have trended lower because of declining costs for raw materials and slab, as well as slow buying, sources told Fastmarkets on Wednesday May 24.

Chinese HRC prices drop to six-month low amid downturn in ferrous futures

China’s domestic hot-rolled coil prices continued to decline on Wednesday May 24 and fell to their lowest level in more than six months, amid a downturn in ferrous futures and steelmaking raw materials, sources told Fastmarkets.

European HRC prices trend lower in offers, but buying remains weak

European prices for steel hot-rolled coil were trending downward on slow demand and downbeat expectations, while ArcelorMittal has significantly reduced its offer prices, Fastmarkets heard on Tuesday May 23.