August 2021

IN CASE YOU MISSED IT: 5 key stories from August 31

Here are five Fastmarkets stories you might have missed on Tuesday August 31 that are worth another look

US hot-rolled coil index slips but remains above $96/cwt

Hot-rolled coil prices in the United States drifted lower - but still held above $96 per hundredweight ($1,920 per short ton) for a fourth straight business day - after service centers reported better availability and some shorter lead times.

EUROPE HRC WRAP: Sentiment turns negative after buyers, sellers return to market

The mood in the European hot-rolled coil market soured in the week ended Friday August 27 after both buyers and producers started to return after the summer holiday in August.

EUROPE HRC: Market activity slow, sentiment negative

The European hot-rolled coil (HRC) market remained calm on Tuesday August 31 while buyers remained in a “wait-and-see” mode, sources told Fastmarkets.

GULF FLAT STEEL IMPORTS: Most prices down as export tax uncertainty lingers

Flat steel imports into the United Arab Emirates and Saudi Arabia were mostly at decreased offer prices during the week ended Tuesday August 31, while the uncertainty about the direction of prices continued, sources have told Fastmarkets.

Emirates Steel selects Tata Consulting Engineers to design new HRC plant

Emirates Steel, the biggest steel producer in the United Arab Emirates, has awarded the general designer contract for its proposed flat steel plant to Tata Consulting Engineers, the steelmaker announced on Saturday August 28.

CHINA HRC: Domestic prices dip on weak economic data

Domestic hot-rolled coil (HRC) prices in China edged lower on Tuesday August 31; futures prices pulled back due to the latest factory activity data prompting concerns over the country’s economic recovery.

Export tax woes, shipment delays subdue buying interest for Chinese CRC, HDG

Spot prices for Chinese steel cold-rolled coil were stable over the past week, while prices for hot-dipped galvanized coil dipped, due to limited interest for Chinese CRC and HDG exports, Fastmarkets heard on Tuesday August 31.

US HRC index consolidates around $97/cwt

Hot-rolled coil prices in the United States have slipped below $97 per hundredweight ($1,940 per short ton), with market sentiment mixed on whether the price has peaked.

Mexico extends countervailing duty on US welded pipe; starts anti-dumping probe on Vietnamese coated steel

The Mexican economy secretariat has extended the period of an existing countervailing duty on imports of longitudinal welded carbon steel pipes from the Unites States, and has started an anti-dumping investigation on flat-steel imports from Vietnam.