August 2023

Steel scrap demand heats up in India with raft of US-origin cargoes, containers

India has stepped up its purchasing of deep-sea steel scrap cargoes over the past week, booking at least three vessels-worth of material, sources told Fastmarkets on Thursday August 31, while prices for containerized material have also risen amid continued buying.

Steel billet, rebar demand remains limited in Egypt

Demand for steel billet and rebar remained limited in Egypt in the week to Thursday August 31, because of the shortage of foreign currency in the country, sources told Fastmarkets.

China’s import pig iron prices widen in thin trading

Chinese import prices for basic pig iron widened in the fortnight to Thursday August 31, but activity was largely subdued over the period because Chinese participants had limited interest in seaborne cargoes given price weakness in the domestic market, sources said.

Asian steel billet prices narrow down after spot market deal

Steel billet prices in Asia narrowed down in the week to Thursday August 31, following the conclusion of a spot market deal, sources told Fastmarkets.

Flat green steel premiums in Europe stable amid sporadic trading

Green steel premiums for flat steel in Europe remained unchanged in the seven days to Thursday August 31, amid sporadic demand, sources told Fastmarkets.

Steel HRC producers across Europe gradually raising offer prices

More European steel hot-rolled coil producers have announced higher offer prices, but buyers continued to hold back, claiming that slow end-user demand was not supportive of major price rises, Fastmarkets heard on Thursday August 31.

Turkish mills continue to avoid deep-sea scrap imports

The Turkish deep-sea steel scrap import market remained muted amid weak finished steel sales in the domestic and export markets, sources told Fastmarkets on Thursday August 31.

Turkish rebar and wire rod export prices rise despite weak demand

Turkish rebar and wire rod export prices increased in the past week following the latest uptick in imported scrap costs, but demand in the major export outlets was still limited, sources told Fastmarkets on Thursday August 31.

DR pellet market mood negative on low demand, Q4 premium down

The mood in the market for direct-reduced (DR) iron ore pellet remained negative in the week ended Wednesday August 30, with the premium expected to go down for shipments in the fourth quarter due to low demand.

European steel hollow sections market still quiet as summer holiday nears end

Prices for steel hollow sections in Europe remained flat in the week to Wednesday August 30.