January 2017

HIGHLIGHTS: Chinese New Year, low scrap prices in Turkey, iron ore output data, Trump...

Metal Bulletin reviews some of the key news and price moves from the past week in the global steel market.

Indian mills unlikely to cut domestic HRC prices in February

Indian mills are likely to keep their domestic prices for hot rolled coil (HRC) unchanged next month despite a sharp fall in prices in the spot markets, Metal Bulletin has heard.

Russia’s MMK expects local steel market to recover in 2017

Russia’s Magnitogorsk Iron & Steel Works (MMK) expects to see a recovery in domestic steel demand in this year, the steelmaker said this week.

Analysts predict 18% jump in ArcelorMittal's 2016 earnings

Analysts expect ArcelorMittal’s earnings before interest, taxes, depreciation and amortisation (Ebitda) for the full year of 2016 to jump by 17.86% year-on-year, the company said on Friday January 27.

Turkey books HRC from Ukraine as price drops by $12-15 per tonne

A total of 10,000 tonnes of hot rolled coil (HRC) was booked from Ukrainian steelmaker Metinvest into Turkey this week at $498 per tonne cfr, Metal Bulletin has heard.

Turkish coated coil prices down but demand forecast to rise

Coated coil prices fell in Turkey this week, with demand good but expected to increase in a month or so, Metal Bulletin has heard.

Demand for Turkish HRC strong in Europe

European buyers continued to book hot rolled coil (HRC) from Turkey this week, maintaining the good demand for the product, Turkish traders told Metal Bulletin on Friday January 27.

South America's flat steel prices stable on lack of trading

Flat steel import prices in South America were stable this week ahead of the Chinese New Year holiday, Metal Bulletin has heard.

Latin America’s apparent steel use up 4% in November

Apparent steel consumption in Latin America increased by 4% year-on-year in November 2016, to 5.38 million tonnes, according to figures released by regional steel association Alacero on Thursday January 26.