November 2023

China’s domestic rebar prices continue spiraling down on slow demand

China’s domestic rebar prices maintained their downward trend on Wednesday November 29, due to weak demand from both end users and trading houses, sources said.

Ternium México bets on DRI for green steel future

Ternium is the latest steelmaker to choose direct-reduced iron (DRI) as its decarbonization option of choice, with a historic investment of $2.2 billion.

UAE rebar, billet prices mostly stable, demand moderate

The prices for steel rebar and billet in the United Arab Emirates were mostly unchanged during the week to Tuesday November 28, with demand only moderate, because buyers tend to avoid building inventories at the end of the year, sources told Fastmarkets.

China’s domestic rebar prices fall on concerns over commodity price regulation

China’s domestic rebar prices declined on Tuesday November 28, with market participants expressing concerns about the latest government attempt to impose controls on steel and iron ore prices.

Russian non-sanctioned steel slab offers return, market remains largely stable

Export steel slab prices from Russia remained largely stable in the week to Monday November 27, despite the fact that a non-sanctioned supplier returned with new offers in a generally positive global slab and flat steel market, sources told Fastmarkets.

Russian export billet prices remain firm; new bookings come to light

Export steel billet prices from Russia remained firm on Monday November 27 as a result of some bookings coming to light over the weekend.

Chinese crude steel output dips in mid-Nov; inventory decline slows

China’s crude steel output dipped in mid-November with some mills beginning year-end maintenance, while improved margins have encouraged some mills to resume or ramp up production, market participants told Fastmarkets on Monday November 27.

Restocking activity boosts China’s domestic rebar prices

China’s domestic rebar prices increased on Monday November 27 due to replenishment activity from trading houses and higher production costs, sources told Fastmarkets.

Brazilian slab export prices stable amid supply-demand gap

Brazilian steel slab export prices remained stable in the week ended Friday November 24, due to a lack of available material while market participants saw an imbalance between supply and demand.

Russian steel billet export prices rise on higher scrap costs, limited availability

Steel billet export prices from Russia continued to push up in the week to Friday November 24 amid higher international scrap costs, sources told Fastmarkets.