August 2023

Steel billet, rebar demand remains limited in Egypt

Demand for steel billet and rebar remained limited in Egypt in the week to Thursday August 31, because of the shortage of foreign currency in the country, sources told Fastmarkets.

Flat green steel premiums in Europe stable amid sporadic trading

Green steel premiums for flat steel in Europe remained unchanged in the seven days to Thursday August 31, amid sporadic demand, sources told Fastmarkets.

Steel HRC producers across Europe gradually raising offer prices

More European steel hot-rolled coil producers have announced higher offer prices, but buyers continued to hold back, claiming that slow end-user demand was not supportive of major price rises, Fastmarkets heard on Thursday August 31.

Better-than-expected manufacturing data boosts Chinese HRC prices

Domestic and export hot-rolled coil prices in China rose on Thursday August 31, supported by the release of better-than-expected manufacturing data from the country earlier in the day.

Steel heavy plate market in Europe seeks direction after holiday lull

The European market for steel heavy plate remained quiet in the seven days to Wednesday August 30, with the price direction still unclear amid limited trading, market sources have told Fastmarkets.

Lack of end-user demand remains major concern for European HRC market

The European market for steel hot-rolled coil was slowly restarting after summer holidays, but a strong rebound in September was seen to be unlikely because of a lack of real steel demand, industry sources told Fastmarkets on Wednesday August 30.

European CRC, HDG producers mull higher prices

European steelmakers intend to increase prices for downstream flat steel, while buyers are unconvinced about a strong rebound due to still-weak demand from end users, Fastmarkets heard on Wednesday August 30.

China’s domestic HRC prices flat despite weak demand

China’s domestic hot-rolled coil prices halted their downtrend on Wednesday August 30 amid a more positive outlook among sellers, but buyers remained cautious and therefore had low appetite for the material.

China’s Shagang to raise silicon steel capacity to meet green steel demand

China's leading private steel mill Shagang plans to add more silicon steel capacity to meet the rising demand for the product.

Price downtrend for flat steel imports into UAE, Saudi Arabia makes buyers cautious

The decreasing prices for flat steel products imported into the United Arab Emirates and Saudi Arabia have made buyers wait before booking during the week ending Tuesday August 29, industry sources have told Fastmarkets.