July 2023

European steel HRC market quiet amid summer closures

Trading in the market for steel hot-rolled coil in Europe remained quiet on Monday July 31 as a result of seasonal summer closures, industry sources told Fastmarkets.

Emirates Steel Arkan cancels plan to buy stake in Thyssenkrupp steel unit, sources say

Emirates Steel Arkan has cancelled its plans to acquire a stake in the steel division of Germany-based Thyssenkrupp, sources close to the Middle Eastern company have told Fastmarkets.

Chinese HRC prices fall after rising for seven days

China’s domestic hot-rolled coil prices moved lower on Monday July 31, after rising for seven consecutive trading days.

Brazilian slab export prices down as buyers remain cautious

Brazilian slab export prices narrowed downward this week, while buyers and sellers were facing tough negotiations around the last batches for September shipment.

Brazilian flat steel prices set to hold despite import pressure: Usiminas

Brazilian prices for flat-rolled steel products are still poised to remain stable through the end of 2023, despite downward pressure coming from cheaper imports, mostly due to already-squeezed profit margins, top local steelmaker Usiminas said on Friday July 28.

South America’s flat steel import prices up amid rising Chinese offers

Import prices for flat steel in South America increased in the week to Friday July 28, ?market participants told Fastmarkets, indicating that Chinese mills have been raising their offers and not accepting lower bids.

Turkish flat steel market steady on low demand during holidays

The flat steel market in Turkey was mostly stable during the week ended Friday July 28 because of a lack of demand, even though higher prices were heard from East Asia, industry sources told Fastmarkets.

Turkish coated coil market remains mostly stable on weak buying

Prices for coated coil in Turkey were largely steady during the week ending Friday July 28 due to tepid demand.

Steel HRC prices flat in Europe as holiday lull begins

Prices for steel hot-rolled coil in Europe were largely flat on Friday July 28 in slow summer trading, although mills hoped to achieve some post-holiday increases due to an expected recovery in apparent demand, industry sources have told Fastmarkets.

Vietnam HRC prices up amid higher Chinese offers, thin demand

Prices for hot-rolled coil imports into Vietnam increased slightly in the week to Friday July 28 amid a strong uptrend in Chinese steel prices, sources told Fastmarkets.