February 2024

South American HRC, CRC import prices drop amid pressure after Chinese New Year

South American flat steel import prices were mostly lower in the week to Friday February 23, with market sentiment bearish after the Lunar New Year holiday in China, sources told Fastmarkets.

Turkey returns to deep-sea scrap market with higher bookings, but Asian buying remains slow

Turkey returned to the deep-sea scrap import scrap market in the week ended Friday February 23 with some bookings at higher prices due to firm collection costs. But major Asian scrap importers remained slow to make new bookings because of an uncertain outlook for rebar demand.

Brazilian slab export prices decrease further due to US flat steel downtrend

Brazilian slab export prices fell in the week ended on Friday February 23, following a recent decrease in prices of flat steel in most buying markets.

US import, Brazil export pig iron prices down on buyer pressure

Prices for US import and Brazil export pig iron fell in the week to Friday February 23 due to negative sentiment on the buy-side, sources told Fastmarkets.

Turkey books 10,000 tonnes of Russian steel billet for prompt shipment

A Russian supplier has sold two lots of steel billet for prompt shipment to Turkey, according to information that came to light at the end of the week.

Delayed publication of US, Brazil pig iron assessments: pricing notice

The publication of Fastmarkets’ US and Brazil pig iron price assessments for Friday Feb 23 were delayed because of an administrative error.

Turkish flat steel market in wait-and-see mode

The Turkish flat steel market was in a wait-and-see mode during the week ended Friday February 23 because of uncertainty around price direction, sources told Fastmarkets.

Turkish coated coil market mostly stable on lack of demand

The market for coated coil in Turkey was mostly stable during the week to Friday February 23 amid weak demand and expectations among market participants that hot-rolled coil prices could decrease, sources told Fastmarkets.

Pakistan slows steel scrap replenishing spree amid weaker domestic sentiment, dollar shortage

Pakistani steelmakers reduced steel scrap bookings in the week to Friday February 23 amid a US dollar shortage in the country and slowed finished steel demand due to political uncertainties, sources told Fastmarkets.

Import steel slab prices in Italy continue to weaken on negative fundamentals

Import steel slab prices in Italy continued to weaken in the week to Friday February 23, pressured by negative market fundamentals, particularly lower raw materials prices globally and depressed steel plate prices in the domestic market.