February 2024

South American HRC, CRC import prices drop amid pressure after Chinese New Year

South American flat steel import prices were mostly lower in the week to Friday February 23, with market sentiment bearish after the Lunar New Year holiday in China, sources told Fastmarkets.

Turkish flat steel market in wait-and-see mode

The Turkish flat steel market was in a wait-and-see mode during the week ended Friday February 23 because of uncertainty around price direction, sources told Fastmarkets.

Turkish coated coil market mostly stable on lack of demand

The market for coated coil in Turkey was mostly stable during the week to Friday February 23 amid weak demand and expectations among market participants that hot-rolled coil prices could decrease, sources told Fastmarkets.

Trading sluggish in European HRC market despite price drops

The downtrend in prices which started in the European markets for steel hot-rolled coil in early February has continued in the week ending Friday February 23, industry sources have told Fastmarkets.

How Ukraine’s war-torn steel industry has transformed since Russia's invasion, with closer ties to EU

This week marks two years since Russia invaded Ukraine on February 24, 2022, but despite the resulting threats and challenges thrown up by the war, the Ukrainian steelmaking sector has managed to adapt. Here, Fastmarkets recaps the key changes.

HRC import prices dip in Vietnam; Formosa Ha Tinh lowers domestic offers

Prices for hot-rolled coil in the key import market of Vietnam dipped in the week to Friday February 23, mainly due to poor spot market demand and a sharp decline in Chinese ferrous futures earlier in the week.

Chinese HRC prices extend decline without signs of demand pick-up

Chinese hot-rolled coil prices continued to edge down on Friday February 23, with demand remaining subdued amid adverse weather and shortly after the Lunar New Year (LNY) holiday, sources told Fastmarkets.

Brazilian flat steel market to benefit from increasing domestic sales, recovery in demand: Inda

Brazilian flat steel prices should be stable or up in the coming months due to increasing domestic sales and a recovery in demand from the automotive, construction and machinery sectors, according to national flat steel distributors association Inda.

European HRC prices stabilize in slow market; near-term sentiment remains downbeat

European hot-rolled coil prices were largely unchanged on Thursday February 22, with trading said to be minimal while buyers expected prices to move further downward, sources told Fastmarkets.

Chinese HRC prices fall on inventory increase

China’s domestic spot hot-rolled coil prices moved lower on Thursday February 22 amid continued weakness in demand and higher inventories, sources told Fastmarkets.