Spot prices for hot-rolled coil in China fell further on Wednesday October 27, with the coal-led broad-based decline in the futures markets resuming following the state planner’s latest attempt at cooling coal prices.
Spot prices for hot-rolled coil in China fell on Tuesday October 26 amid weakening demand and a weakening of the futures market on Monday night.
Spot prices for hot-rolled coil in China were stable on Monday October 25, with thin liquidity and volatile prices keeping buyers in wait-and-see mode, sources told Fastmarkets.
The Commonwealth of Independent States' (CIS) billet export prices increased following a couple of Black Sea cargoes reportedly sold to Turkey, sources told Fastmarkets on Monday October 18.
China’s domestic demand for stainless steel has weakened in the past few week due to a widespread electricity shortage across the country, which weighed on prices in the week to Wednesday October 13.
Steel billet sellers are increasingly exploring options to sell material into Southeast Asia amid a lack of interest in imports from key buyers in China and the worsening Chinese port congestion.
Long steel exporters from the Commonwealth of Independent States (CIS) are targeting higher prices amid rising international scrap prices, sources told Fastmarkets this week.
Chinese domestic rebar prices continued to rise on Monday October 11 after steel mills increased their list prices, but market participants remain pessimistic about demand and prices for the rest of October.
Import prices for cargoes of steel billet to China were unchanged on Friday October 8, but a growing sense of bullishness from the sell-side was reflected in offer prices, sources have told Fastmarkets.
Sources told Fast Market on Tuesday (October 5th) that the price of steel rebar and ingots has dropped in the UAE and demand remains low. Chinese holidays seem to be putting pressure on all international markets, especially the rebar market. In the following, we will evaluate the UAE rebar market. Please be with Artan Press. […]