June 2021

US HRC index surges past $86/cwt

Hot-rolled coil prices in the United States rose above $86 per hundredweight ($1,720 per short ton) for the first time on Wednesday June 30, surpassing the previous all-time high that was reached just a day before.

EUROPE CRC: Domestic prices high despite limited trading

Domestic prices for cold-rolled coil in Europe inched up over the week to Wednesday June 30, despite slow trading activity, sources have told Fastmarkets.

EUROPE HRC: Domestic prices slide in Northern Europe and Italy

Domestic prices for hot-rolled coil moved down across Europe on Wednesday June 30, but market participants were in disagreement over whether the decline indicated a change of trend.

Turkish flat steel imports increase by 79.67% in May 2021

Turkey imported 829,929 tonnes of flat steel in May 2021, up by 79.67% from 461,928 tonnes in the corresponding month of 2020, the Turkish Statistical Institute (TÜIK) said on Wednesday June 30.

CHINA HRC: Domestic prices follow futures market higher on production cut expectations

Hot-rolled coil prices across China’s domestic market moved higher on Wednesday June 30, supported by futures prices that are underpinned by expectations of lower production for the rest of this year.

CIS FLAT STEEL: Russian duties push down HRC price for prompt shipments

Export prices of hot-rolled coil from the Commonwealth of Independent States (CIS) have dropped for prompt shipments in the week to Tuesday June 29 due to the implementation of new export duties in Russia, sources told Fastmarkets.

China’s steel plate export prices dip on weak demand and wait-and-see attitude

Export prices for Chinese steel plate dipped further in the week to June 30 amid weak overseas demand from areas such as Southeast Asia and South America. The downtrend in Chinese domestic prices meant that overseas clients kept a wait-and-see approach, sources said.

Chinese CRC, HDG export prices continue to fall on upstream losses, lower domestic prices

Export prices for cold-rolled coil and hot-dipped galvanized coil in China continued to fall this week amid upstream losses in the hot-rolled coil segment and weaker domestic prices, market sources said.

Shrinking credit keeping steel trading thin in Asia, trading manager says

Shrinking credit lines have kept spot trading activity in the Asian steel market thin in recent weeks, a senior trading manager in Southeast Asia told Fastmarkets this week.

US hot-rolled coil index at new record; price reversal said elusive

Hot-rolled coil prices in the United States surged to an all-time high after more market participants grew concerned that a shortage of spot-market tonnage may endure for the remainder of 2021.