March 2023

South American flat steel import prices mostly lower on reduced market liquidity

Flat-rolled steel import prices were mostly lower in South America during the week to Friday March 31, with market liquidity drying up as negotiations for shipments in May started to be concluded, sources told Fastmarkets.

Some Turkish flat steel prices fall again on decreasing costs, demand

Some flat steel prices in Turkey continued to decrease during the week ended Friday, March 31 due to weakening demand and decreasing production costs, sources told Fastmarkets.

European HRC producers aim for higher offers, buyers cautious as lead times extend

The European steel hot-rolled coil market remained quiet on Friday March 31 while waiting for higher offer prices to be issued by the major steelmakers, Fastmarkets has heard.

Turkish galvanized coil prices increase in local market, demand low

Prices for hot-dipped galvanized coil in Turkey increased in the week to Friday March 31, but demand was limited, sources told Fastmarkets.

Chinese steelmakers divided on potential 2.5% crude steel output cut

Major Chinese steelmakers are divided on a potential 2.5% cut in annual crude steel production this year, sources told Fastmarkets recently, especially because the industry continues to see squeezed margins and oversupply in the coming months.

Property crisis, weak European demand drag down Vietnamese HRC import prices

An ongoing property debt crisis in Vietnam and faltering demand from Europe continued to weigh down hot-rolled coil import prices in the country over the week to Friday March 31, sources told Fastmarkets.

China’s HRC prices rise on a positive manufacturing PMI

China’s domestic hot-rolled coil prices maintained their upward trend on Friday March 31.

Turkey postpones flat steel import duty increase for one more month

Turkey postponed the application of increased import duties on flat steel products until May 1, 2023, according to the Turkish Official Gazette dated Friday March 31.

Ternium buys additional stake in voting shares of Brazil's Usiminas

Latin American steel group Ternium acquired additional controlling shares of Brazilian flat steel producer Usiminas, strengthening its influence over the company following an agreement with other controlling shareholder Nippon Steel Corporation.

EU flat steel distributor shipments show small increase for Jan-Feb 2023

European distributors of flat steel products reported marginally higher year-on-year shipments for January-February 2023, which reflected a positive trend in hot-rolled coil market, the regional steel industry association Eurometal said on Thursday March 30.