May 2023

Russia’s HRC, CRC exports fall, with supplies diverted to domestic construction market

Russian hot- and cold-rolled steel coil exports fell in the week to Monday May 22 after material was diverted to the domestic market to cater for rising demand at the start of country's construction season, sources told Fastmarkets.

Lack of trading keeps HRC prices flat in Europe, but sentiment gloomy

The European steel hot-rolled coil market remained quiet on Monday May 22, with trading limited and major producers continuing to hold back from issuing firm offers, Fastmarkets has heard.

Bearish sentiment inhibits trading in European HRC market in week to May 19

The wait-and-see approach adopted by buyers, gloomy market conditions and expected price cuts in June combined to stifle activity in the European HRC market in the week to May 19, sources told Fastmarkets.

Chinese HRC prices continue to slide after central bank keeps key lending rates unchanged

Chinese hot-rolled coil prices continued to decline on Monday May 22, with market sentiment staying subdued after the country’s central bank, the People's Bank of China (PBOC), again kept its benchmark lending rates unchanged.

Brazilian slab export prices stable amid lack of deals

Slab export prices from Brazil were stable in the week ended Friday May 19, while consumers remained in a wait-and-see mode because of a weak flat steel market.

Traders undercut mills' HRC prices by $24-30/t in Indian domestic market

Traders in the Indian domestic market were selling steel hot-rolled coil at a 2,000-2,500 rupees ($24.21-30.26) per tonne discount compared to prices offered by mills in the week to Friday May 19, Fastmarkets learned.

European HRC buyers, sellers stay in wait-and-see mode; sentiment gloomy

Market participants in Europe’s hot-rolled coil market remained in wait-and-see mode on Friday May 19, due to a lack of firm offers, with buyers expecting to see to price cuts from the major mills in June, sources told Fastmarkets.

HRC offer prices rise in Asia but buyers stay on sidelines due to poor downstream demand

Asian hot-rolled coil price remained largely unchanged in the week to Friday May 19, despite offers rising in line with the uptick in steel prices in China, with buyers remaining on the sidelines due to poor demand in the region, sources said.

Chinese HRC prices fall again on renewed Fed rate hike concerns

Chinese hot-rolled coil prices continued to fall in both the domestic and export markets on Friday May 19, with sentiment hit by growing expectations for further interest rate increases in the United States.

Turkish coated coil prices decrease slightly; buying slow

Coated coil prices in Turkey continued to fall moderately during the week ending Thursday May 18, and buying was still slow, sources told Fastmarkets.