January 2023

Mexican steel scrap prices continue to climb on low inventories, strong demand

Mexican steel scrap prices increased again in the week ended Friday January 27, with consumers struggling to rebuild their inventories amid limited supply.

Russian export steel slab market strong on demand in Italy

The export market for steel slab in Russia was strong during the week to Monday January 30, primarily because of demand in Italy, where prices for non-sanctioned Russia material are better than for material from Asia or Brazil. .

Turkish steel scrap import prices increase in further bookings

The prices for steel scrap imported into Turkey moved up again on Tuesday January 31, driven by continuing demand for deep-sea cargoes among the country’s steelmakers.

Turkey to cut energy prices to make steelmakers more competitive

Falling energy costs in Turkey will make steelmakers there more competitive, sources told Fastmarkets on Tuesday January 31.

ArcelorMittal to restart BF at Asturias flat-steel plant but at reduced rate

Leading European steelmaker ArcelorMittal has confirmed its intention to restart a blast furnace in Spain after almost five months of downtime, the company told Fastmarkets on Tuesday January 31.

European HRC buyers delay purchases, mills insist on higher prices

European hot-rolled coil prices were largely stable amid quiet trading on Tuesday January 31, sources told Fastmarkets.

Flat steel import prices in UAE, Saudi Arabia mostly continue to rise; buyers looking to restock

Import prices for flat steel products in the United Arab Emirates (UAE) and Saudi Arabia mostly continued to increase in the week to Tuesday January 31 due to the emergence of higher offer prices and because buyers were planning to replenish their stocks, sources told Fastmarkets.

Rebar prices decrease in UAE on new deals

Steel rebar prices in the United Arab Emirates decreased during the week to Tuesday January 31 following discounts announced by mills to regular buyers, sources told Fastmarkets.

Saudi Arabia’s Hadeed SABIC decreases rebar prices, surprises market

Saudi Arabia's largest steel producer, Hadeed SABIC, has decreased its rebar prices for February-production orders.

Domestic flat steel prices increase in Russia for February delivery on limited supply from mills

Flat steel prices in Russia's Central Federal District around Moscow increased again due to limited supplies from mills, with some large stockists reporting a scarcity of material on offer, which has resulted in only around 70% of monthly restocking requirements being booked, sources told Fastmarkets on Monday January 30.