January 2023

Turkey to cut energy prices to make steelmakers more competitive

Falling energy costs in Turkey will make steelmakers there more competitive, sources told Fastmarkets on Tuesday January 31.

ArcelorMittal to restart BF at Asturias flat-steel plant but at reduced rate

Leading European steelmaker ArcelorMittal has confirmed its intention to restart a blast furnace in Spain after almost five months of downtime, the company told Fastmarkets on Tuesday January 31.

European HRC buyers delay purchases, mills insist on higher prices

European hot-rolled coil prices were largely stable amid quiet trading on Tuesday January 31, sources told Fastmarkets.

Flat steel import prices in UAE, Saudi Arabia mostly continue to rise; buyers looking to restock

Import prices for flat steel products in the United Arab Emirates (UAE) and Saudi Arabia mostly continued to increase in the week to Tuesday January 31 due to the emergence of higher offer prices and because buyers were planning to replenish their stocks, sources told Fastmarkets.

Domestic flat steel prices increase in Russia for February delivery on limited supply from mills

Flat steel prices in Russia's Central Federal District around Moscow increased again due to limited supplies from mills, with some large stockists reporting a scarcity of material on offer, which has resulted in only around 70% of monthly restocking requirements being booked, sources told Fastmarkets on Monday January 30.

Chinese CRC, HDG export prices rise further after Lunar New Year holiday

Export prices for Chinese cold-rolled and hot-dipped galvanized steel coil continued to rise after trading resumed following the week-long Lunar New Year holiday.

Chinese HRC prices fall amid poor demand

Prices for Chinese hot-rolled coil across the domestic and export markets fell on Tuesday January 31, with demand yet to pick up after the weeklong Lunar New Year holiday (January 21-27).

Russian HRC export trade non-existent; buyers resist higher offer prices

The export market for hot-rolled coil from Russia remained inactive in the week to Monday January 30, with buyers refusing to accept higher offer prices, Fastmarkets understands.

Latest European steel HRC offer prices unsustainable, buyers say

Prices for steel hot-rolled coil in Europe were largely flat on Monday January 30 because buyers did not consider new offer prices to be sustainable, Fastmarkets has heard.

Market supports price increases in European HRC market in week to January 27

Prices in the European hot-rolled coil market remained relatively stable during the week to Friday January 27.