May 2022

Quick-thinking Chinese traders prosper in volatile steel semis markets

Some Chinese trading firms have been quick to react and to find opportunities in this year’s increasingly volatile markets for semi-finished steel products, sources said during last week’s Fastmarkets Singapore Steel Forum.

Indian steel export taxes might help to stabilize EU HRC market, sources say

European market sources have suggested that the new taxes on Indian steel exports could help to stabilize domestic hot-rolled coil prices in Europe in the medium term, although the full effects have yet to be seen, Fastmarkets heard on Thursday May 26.

Bearish sentiment, coke price cuts reduce seaborne coking coal cfr prices

Seaborne coking coal prices in the cfr China market declined on Thursday May 26 amid continued bearish sentiment across the steel market and following a fourth round of coke price cuts, sources said.

Iron ore prices decline amid weaker futures, poor downstream demand

Seaborne iron ore prices dipped on Thursday May 26 amid weaker futures and swap prices, caused by limited demand in downstream steel markets, sources told Fastmarkets.

Chinese HRC prices fall despite Beijing’s push for policies to stabilize economy

Spot prices for hot-rolled coil in China’s domestic market fell on Thursday May 26 despite authorities’ latest attempts to stabilize the economy.

Why China iron ore lump prices are blazing despite weak downstream steel demand

China’s iron ore lump prices have been following an unusual trend recently, moving in the opposite direction of falling iron ore fines prices, despite poor apparent steel demand.

China's domestic rebar prices continue to slide on bearish sentiment

China’s domestic rebar prices continued to fall on Thursday May 26, with market participants pessimistic about the outlook for demand.

Northern Europe wire rod prices slip further on weak demand, cheaper scrap

Wire rod prices in Northern Europe’s domestic market moved further down in the past week on weak demand and lower scrap costs, sources told Fastmarkets on Wednesday May 25.

India's export duty on stainless steel no boon for China

The emergence of a 15% export duty for Indian stainless steel has led to expectations of lower outbound shipments from India, but market participants do not expect China - the biggest supplier in Asia - to get more orders as a result.

Steel industry left dismayed as Chinese Premier warns of worsening economy but offers no further financial support

Steel industry market participants were left dismayed after Chinese Premier Li Keqiang called on local governments across China to implement policies to stabilize and support market growth, but offered no new fiscal support for the industrial sector.