May 2021

GULF FLAT STEEL IMPORTS: Prices stable amid Eid holiday

Demand for imported flat steel in the United Arab Emirates and Saudi Arabia was low during the week to Tuesday May 11 because of the start of the Eid Al-Fitr holiday, which marks the end of the Islamic holy month of Ramadan, sources told Fastmarkets.

RUSSIA FLAT STEEL: Prices rise, with bullish offers backed by strong buying activity, growing exports

Flat steel prices in Russia’s Central Federal District around Moscow moved up on new bullish offers for June material, supported by growing exports and strong local buying activity, sources told Fastmarkets on Tuesday May 11.

CHINA HRC: Prices stay at historical highs amid stable demand

China’s hot-rolled coil prices remained at their historical high on Tuesday May 11 amid stable demand, after surging up by around 600 yuan per tonne over the weekend, sources said.

IN CASE YOU MISSED IT: 5 key stories from May 10

Here are five Fastmarkets stories you might have missed on Monday May 10 that are worth another look.

RESEARCH: US HRC prices may be near peak, but upside risk remains

The latest forecasts from Fastmarkets’ team of analysts are ready to view.

Further extension of EU trade safeguards could add to supply problems, Turkish sources say

The European Commission (EC) should not extend the region’s existing safeguard duties on steel product imports, because it would result in increasingly limited supply and higher prices, speakers said in a webinar organized last week by the Turkish Steel Exporters’ Union (ÇIB).

European buyers buy significant volumes of CRC from China

European buyers have purchased substantial volumes of cold-rolled coil from China for the first time in about five years, despite the product being subject to anti-dumping tariffs, sources told Fastmarkets on Monday May 10.

AM/NS India reports jump in Q1 earnings, further expansion plans

The joint venture between ArcelorMittal and Nippon Steel, AM/NS India, has reported solid financial results for the first quarter of 2021, while planning further growth.

EUROPE HRC: Domestic prices continue to climb on tight supplies, strong demand

Domestic prices for hot-rolled coil edged up further on Monday May 10, supported by an uptrend in the international market, a domestic shortage of material and strong demand, sources told Fastmarkets.

AT A GLANCE: Tata Steel reports earnings up on more production, deliveries

A summary of the full-year and final-quarter financial results for Indian steelmaker Tata Steel’s 2020-21 year, ended March 31.