February 2023

Flat steel import prices to the UAE mixed; several deals done despite patchy demand

Import prices for flat steel imports to the United Arab Emirates were mixed in the week to Tuesday, February 28, with several deals heard despite limited demand, sources told Fastmarkets.

Standoff between mills and buyers limits trading in European HRC markets, but short-term sentiment positive

The standstill in European markets for steel hot-rolled coil continued Tuesday February 28, while longer lead times and expected restocking activity supported a positive mood, Fastmarkets heard.

Russian HRC export market up on sales to Turkey, slab sector positive

The Russian export market for steel hot-rolled coil went up over the week to Monday February 27 on new sales to Turkey, while the steel slab sector was positive although no deals were reported over the period.

Chinese CRC, HDG export prices diverge amid yuan depreciation

Export prices for Chinese cold-rolled coil continued to rise in the week to Tuesday February 28, while those for hot-dipped galvanized steel coil dipped.

China steel plate export offer prices widen up despite weaker yuan

Export offer prices for Chinese heavy steel plate widened up in the week to Tuesday February 28, with Southeast Asian trading limited due to the bid/offer price gap, but exports to the Middle East reported, according to market participants.

Chinese HRC prices unchanged despite decline in raw material costs

Spot prices for Chinese hot-rolled coil on Tuesday February 28 were unchanged from the previous day across domestic and export markets despite losses in futures prices for finished steel as well as steelmaking raw materials.

Domestic Russian flat steel prices up in anticipation of seasonal high demand

Prices for flat steel products in Russia’s Central Federal District around Moscow increased in the week to Monday February 27 with mills and traders expecting higher demand in March.

European HRC market remains bullish despite subdued trading

European hot-rolled coil prices were largely stable at high levels on Monday February 27, and are expected to rise further because of restocking activity, market sources said.

Prices remain stable in European HRC market in week to February 24

Market activity was subdued in the European hot-rolled coil market during the week to Friday February 24, due to the standoff between producers and mills continuing with mills unwilling to offer discounts despite weak demand.

Finished steel inventories in China increase slower in mid-February

Inventories of finished steel across the spot markets of 21 Chinese cities increased by 310,000 tonnes (2.3%) in mid-February compared with the first 10 days of the month, according to the latest China Iron & Steel Association (CISA) data published on Monday February 27.