September 2023

Indian HRC import prices up by $10 per tonne, domestic prices still rising

Indian import prices for steel hot-rolled coil increased by $10 per tonne in the week ended Friday September 29, with China-origin material booked by domestic traders.

Turkish flat steel remains slow; production costs to increase with electricity prices

The market for flat steel in Turkey was slow during the week ended Friday September 29, with production costs expected to increase due to electricity prices, sources told Fastmarkets.

European HRC prices largely flat amid quiet trading

Participants in the European steel hot-rolled market are awaiting clarity regarding a possible influx of imports from October 1, and thus are largely avoiding doing any business for the time being, sources told Fastmarkets on Friday September 29.

Limited activity observed in Asian HRC market ahead of Golden Week holiday

Prices of hot-rolled coil in Asia narrowed downward in the week to Friday September 29 due to limited activity in the spot market ahead of the Golden Week holiday in China from September 29 till October 6.

European mills reluctant to lower green steel premiums despite patchy demand

The overall steel market slowdown has also been weighing on buying interest for green steel, but premiums have been holding ground, sources told Fastmarkets on Thursday September 28.

Can Vietnam's recent bounce in ferrous scrap imports be sustained in Q4?

Steel production in Vietnam slumped once again in the first eight months of 2023, and while some market sources believe that this downtrend may extend to the whole year, others point to a recent rise in ferrous scrap imports and see the possibility of a sustained demand increase.

Expectations downbeat in European HRC market amid slowing consumption

Bearish sentiment prevailed in the European hot-rolled coil market on Thursday September 28, with deteriorating end-user demand now being seen as a major problem, sources told Fastmarkets.

Chinese HRC prices rise on positive industry data

Chinese hot-rolled coil prices moved higher on Thursday September 28 - the last trading day before the Golden Week holiday - in response to positive industry data about flat steel demand.

China’s August HRC exports hit record high due to active Vietnamese buyers

China’s export volumes of steel hot-rolled coil hit a record high in August 2023, with a rally in Chinese steel prices, a weaker yuan and strong demand encouraging overseas buyers to import Chinese cargoes.

Slow demand, competitive imports drag on European steel CRC price; HDG steady

The European markets for steel cold-rolled coil and hot-dipped galvanized coil have remained quiet over the week ending Wednesday September 27, with consumption slowing and cheaper imported alternatives dragging on sentiment, sources have told Fastmarkets.