Indian steel mills kept their domestic hot rolled coil offers unchanged on Friday June 18, despite local traders continuing to undercut their prices by as much as 3,500 rupees ($47) per tonne, Fastmarkets understands.
China’s domestic rebar prices continued to fall on Wednesday June 16 due to sellers looking to destock.
Export wire rod prices from the Commonwealth of Independent States changed in a variety of ways in the week to Monday June 14 with the trading situation being different from market to market.
The domestic price of steel rebar remained stable in Brazil in June, but market participants were uncertain about the price outlook for the finished steel product, questioning the stability of the global price uptrend and noting lower scrap costs in the country.
Prices in the United States for domestically produced hollow structural sections increased this past week while market participants digested a late flurry of price hikes by three producers.
China-based steel traders have regained their appetite for steel billet imports following increases in their domestic steel markets over the last few days, sources told Fastmarkets on Friday June 11.