February 2024

Vietnamese steel scrap import demand muted after China's recovery disappoints

Vietnamese steelmakers were looking for lower-priced scrap cargoes in the week to Friday February 23 and ahead of the peak construction season in March, especially given China’s shaky return after the Lunar New Year holiday, sources told Fastmarkets.

Polish domestic rebar prices increase slightly, but outlook remains uncertain

Polish domestic steel rebar prices increased slightly in the week to Friday February 23, despite the uncertain market outlook, sources told Fastmarkets.

India begins floating steel scrap inquiries amid drop in global prices, improving domestic steel sales

Indian steel mills have begun to float inquiries for steel scrap — especially for heavy melting scrap — in the week to Friday February 23, mainly because of a slight improvement in finished steel sales and a drop in global scrap prices, sources told Fastmarkets.

Trading sluggish in European HRC market despite price drops

The downtrend in prices which started in the European markets for steel hot-rolled coil in early February has continued in the week ending Friday February 23, industry sources have told Fastmarkets.

Turkish deep-sea scrap demand still limited by poor finished steel sales

Turkish steelmakers ended the working week with only two deep-sea steel scrap import deals because of the low level of steel sales in the country, sources told Fastmarkets on Friday February 23.

How Ukraine’s war-torn steel industry has transformed since Russia's invasion, with closer ties to EU

This week marks two years since Russia invaded Ukraine on February 24, 2022, but despite the resulting threats and challenges thrown up by the war, the Ukrainian steelmaking sector has managed to adapt. Here, Fastmarkets recaps the key changes.

Quiet trading keeps seaborne iron ore prices stable

Seaborne iron ore prices showed little change on Friday February 23, with trading quieter than it has been recently, industry sources told Fastmarkets.

Seaborne pellet premiums slip to 8-month low amid weak demand

Iron ore pellet prices in the seaborne market tumbled during the trading week to Friday February 23 in response to a dip in buying interest in the Chinese market.

Asia coking coal prices stable; wait-and-see sentiment persists

Asia coking coal prices were stable in a quiet market on Friday February 23, with buyers holding back from buying on noting that several cargoes were available in the market, sources said.

HRC import prices dip in Vietnam; Formosa Ha Tinh lowers domestic offers

Prices for hot-rolled coil in the key import market of Vietnam dipped in the week to Friday February 23, mainly due to poor spot market demand and a sharp decline in Chinese ferrous futures earlier in the week.