December 2023

European steel beam prices rise on mills’ bullish offers

Steel beam prices in Europe moved up in the week to Wednesday December 6, with mills bullish amid higher scrap feedstock costs.

Iron ore prices rise amid positive expectations for China next stimulus measures, uptick in crude steel output

Seaborne iron ore prices edged up on Thursday, December 7, amid positive market sentiment and elevated crude steel output, sources told Fastmarkets.

Containerized scrap offers to Taiwan well supported by bullish sentiment in Turkey

Spot prices for steel scrap imported into Taiwan continued to trend up on Thursday December 7 due to bullish sentiment in major importer Turkey, which has led to suppliers in the US raising their offers to Taiwan.

Chinese pig iron import prices rise after confirmation of elevated trades

Chinese import prices for basic pig iron rose in the two weeks to Thursday December 7, after trades were confirmed at higher prices, sources told Fastmarkets.

Asia steel billet buyers wait and see amid sharp gains in Chinese ferrous futures

The steel billet market in Asia was muted in the week to Thursday December 7, with buyers in wait-and-see mode following a spike in Chinese ferrous futures, sources told Fastmarkets.

Chinese HRC prices rise to four-month high on rekindled stimulus hopes

Chinese hot-rolled coil prices extended their gains, hitting a four-month high on Thursday December 7, thanks to the sustained support from raw materials costs and the resurgence of expectations for big stimulus measures, sources told Fastmarkets.

China’s domestic rebar prices rise further on high raw material costs

China’s domestic rebar prices remained on an uptrend on Thursday December 7 due to the higher prices for raw materials and positive steel export data released on the same day, sources said.

China's November finished steel exports robust, underpin domestic steel prices

China's finished steel exports remained higher year on year, with the January-November export total rising by 36% from the corresponding period of 2022, according to data released by the General Administration of China Customs on Thursday December 7.

China's domestic stainless steel prices hit year-to-date low, sparks buying interest

China’s domestic stainless steel prices dropped sharply over the week ended Wednesday December 6 and set a new year-to-date low, which attracted buying interest, sources told Fastmarkets.

Correction to China PCI import indices: pricing notice

Fastmarkets has corrected its index assessment for pulverized coal injection, low-vol, cfr Jingtang, $/wmt, MB-COA-0007, which was published incorrectly on Monday December 4 and Tuesday December 5, due to an error.