December 2022

Turkish flat steel market stable in the last working days of the year

The flat steel market was stable in Turkey during the week to Friday December 30, with little buying activity due to the holiday season in most global markets, sources told Fastmarkets.

Indian mills likely to raise domestic HRC prices by $12-18 per tonne in January

Indian mills are likely to increase domestic hot-rolled coil prices by 1,000-1,500 rupees ($12-18) per tonne for January sales, citing rising international prices of HRC and higher raw material costs.

Chinese HRC prices rise on final trading day of 2022

China’s domestic hot-rolled coil prices rose on Friday December 30, after futures prices for the flat steel product hit a two-week high on the final trading day of 2022.

Chinese HRC price narrows upward amid choppy futures trading

China’s domestic hot-rolled coil prices narrowed upward on Thursday December 29, after futures prices for the flat steel product experienced another choppy trading day in the run-up to the New Year holiday.

Russian domestic flat steel market quiet on holiday lull

Prices for hot-rolled steel sheet in Russia’s Central Federal District around Moscow decreased slightly, while cold-rolled sheet and plate remained unchanged in the week to Wednesday December 28, with sluggish trading due to the holiday lull, sources told Fastmarkets.

Russia’s export HRC market up on new sales to Turkey

The Russian hot-rolled coil (HRC) export market has improved over the week to Wednesday December 28 on new sales to Turkey.

Tesla Shanghai shutdown adds to China auto woes

Reports of a production suspension at Tesla’s Shanghai plant has not only contributed to a tumble in the shares of the electric-vehicle (EV) maker but also added to concerns over a slowdown in China’s car market, which has been struggling due to shrinking sales in recent months.

Chinese HRC prices fall, with rising Covid-19 infections weighing on demand

Spot prices for hot-rolled coil in China’s domestic market moved lower on Wednesday December 28, with the rally in futures prices stemmed by weak demand.

China’s HRC exports triple in November

Chinese HRC prices increase after announcement of removal of Covid-19 quarantine for inbound travelers

China’s hot-rolled coil prices moved higher on Tuesday December 27 after the country announced a further loosening of its restrictions to contain the Covid-19 outbreak.