May 2023

Flat steel import prices in UAE, Saudi Arabia little changed; some deals concluded

Prices for flat steel imported into the United Arab Emirates (UAE) and Saudi Arabia were little changed during the week to Tuesday May 23, with some deals were heard, sources told Fastmarkets.

US Steel Kosice considers blast furnace stoppage on weak demand - sources

Slovakia-based flat steel producer US Steel Kosice (USSK) is considering halting one of its blast furnaces due to slow demand for steel across Europe, sources told Fastmarkets on Tuesday May 23.

China steel plate export prices fall further, trading thin

Export prices for Chinese heavy steel plate decreased further in the week to Tuesday May 23 due to overall bearish expectations in the market, sources told Fastmarkets.

Russian domestic rebar, hot-rolled sheet decreases on availability of material

The Russian domestic market for reinforcing bar (rebar) and hot-rolled sheet softened in the week to Monday May 22 on moderate demand and the availability of material redirected from the export markets, sources told Fastmarkets.

Advancements in green steel 'cannot be achieved in geographical isolation': SIFW 2023

Advancements in “green steel” cannot be achieved in geographical isolation and require the collaboration of all stakeholders in all regions if they are to succeed, according to a keynote speaker at the Singapore Green Steel Forum on Tuesday May 23.

Weaker yuan pulls Chinese CRC, HDG export prices lower

Export prices for Chinese cold-rolled coil and hot-dipped galvanized steel coil slid or widened downward in the week to Tuesday May 23, due to a weakening in the yuan versus the US dollar.

Value of green steel 'comes down to ability to price it': SIFW 2023

Pricing green steel remains a challenge because there has yet to be a universal definition of what it entails, said panelists at the Singapore Green Steel Forum 2023 on Tuesday May 23.

ArcelorMittal cuts flat steel prices in Europe; other mills likely to follow - sources

ArcelorMittal has cut its offer prices on steel coil products across Europe by nearly €100 ($108) per tonne, with other steelmakers now likely to adjust their offers as well, several trading sources told Fastmarkets on Tuesday May 23.

Chinese HRC prices dip amid lingering pessimism

Chinese hot-rolled coil prices continued to fall across the domestic and export markets on Tuesday May 23, with sentiment remaining pessimistic in the absence of any bullish signs.

South American flat steel import prices down on volatility in China

Steel coil import prices in South America went down during the week to Friday May 19 but appeared to stabilize at the end of the week, following volatility seen in prices in China, Fastmarkets has heard.