Available prices for Italian S275JR plate are €850-900/t EXW, compared to €850-870/t EXW a week ago, for deliveries in March-April. Sufficient demand and high slab prices have enabled producers to increase their offers. However, only small and medium lots are being sold. “Big buyers are skeptical of prices above €850/t EXW.” On the import side, Indonesian plate is quoted at €820/t cfr for April shipments from Italy.

According to regional governor Nurlan Urankhaev, the corporation would be given the permission to develop the Aidarly copper deposit in the Abay region. In a meeting in Yekaterinburg, Russia, in July of last year, RCC President Vsevolod Levin and Prime Minister of Kazakhstan Alikhan Smailov discussed the proposal. In addition to plans for the development of projects at the Koksay field in the Zhetysu region and Aidarly in the Abay region, Levin discussed the production operations of its in the Aktobe region. Smailov believes that the growth of the Koksay and Aidarly fields is crucial for Kazakhstan. About 85,000 tonnes...

The hike is supported by strong domestic demand in India and restocking by traders in advance of the publication of the Indian budget, with predictions of more price increases in February. As Europe is currently the highest-paying market, the majority of Indian mills want to export HRC into Europe for March shipment and book good income for this fiscal year, ending 31 March 2023 (FY23). However, some sources believe that prices will stabilize soon because this increase is “sentiment-driven, not demand-driven.” At a cost of $780 per tonne cfr, a tier-1 Indian mill last week supplied 10,000 tonnes and 3,000...

On Monday, the 62% Fe index decreased $0.02/t to $126.98/dry metric tonne cfr. The 58% Fe index increased $0.02/t to $110.64/dmt cfr, and the 65% Fe index was $0.1/t higher at $141.4/dmt cfr. The price of May iron ore on the Dalian Commodity Exchange increased by CNY 21/t ($3.11/t), while the price of February 62% Fe futures on the Singapore Exchange increased by $1.7/t to reach $128.76/t. The identical contract for futures on 65% and 58% Fe gained $2.45/t to close at $143.9/t and $1.03/t to close at $110.07/t, respectively. On Monday, billet prices increased while scrap prices remained unchanged....

This is in accordance with a document from the Ministry of Economy that was released in the DOF on January 19. On July 28, 2016, the compensatory quota was first put into effect. The reduction of levies would have a severe impact on domestic production, according to Deacero, Ternium, and ArcelorMittal, who filed a complaint with Mexico’s Secretary of Economy (SE). For Chinese wire rod imports, SE maintains a compensation quota at $0.49 per kilogram. HS codes 7213.10.01, 7213.20.01, 7213.91.03, 7213.99.99, 7227.10.01, 7227.20.01, and 7227.90.99 apply to the products under investigation.

The week ended January 20 saw an upward trend in seaborne coking coal prices as mood improved following China’s relaxation of its ban on Australian coal. The rebound trend is in line with rising iron ore prices in China, which remained above $120/t CFR China for 62% Fe last week. Last week, premium hard coking coal was priced at $329.53 per tonne FOB Australia, up $20.46 from $309.07 per t the week before. Premium Coking Coal Futures for February on the Singapore Exchange closed at $332.33/t on Friday, up from $308.5/t just a week earlier.

According to reports, the supplier is currently supplying HRC to clients in Western Europe for €780 per tonne ($848), while clients in Eastern Europe are offered HRC for €800 per t ($900) delivered. These prices apply to fresh orders that will be fulfilled in March. The action was hotly anticipated in the market in recent weeks and is likely to provide spot transaction prices another lift as they continue to improve. Transactions reached their lowest point at €650/t in mid-November 2022, according to the northern European HRC index, and have since increased by €80/t. The improvement seen over the past...

Tight lending restrictions in Vietnam continue to harm the steel industry. Sangyo Shinko received 6,000 tonnes of H2 grade scrap in the most recent tender, which began on January 12, at a price of JPY 51,030 per tonne ($388/t), while JFE Shoji received 5,000 tonnes for a price of JPY 50,815 per t. The average bid was JPY 50,932/t fas (around JPY 52,000/t fob), which is JPY3,364/t more than the previous tender from December. After the tender, market sources in Vietnam are awaiting further bids for Japanese H2 scrap. Wednesday saw the most recent bids at $425/t cfr Vietnam. According...

During the implementation of the main infrastructure modernization and expansion plan in 2022, the total transportation volume of BAMA and Trans-Siberia to the east will reach 158 million tons. This is a huge challenge. In 2024, the transportation capacity of Eastern Polygon is planned to increase to 180 million tons. According to the Russian Government Information Service, there are about 3 million tons per year. “Some of the facilities in the second phase of the development of the Eastern Polygon were put into operation ahead of schedule, and the infrastructure in the first phase of the development of the Eastern...

Buyers of HRC in the GCC are apprehensive and concerned about a price decline. Due to a sharp and unexpected price decline in the third quarter of 2022, their hands were burned, says a trader. “This time, buyers are more cautious when it comes to closing purchases.” Major Indian mills have reportedly stopped making offers as they assess how sustainable the price increase is and wait for the European HRC market to stabilize. Some are aiming for fob prices this week that are $5–25/t higher than their cfr GCC bids from the previous week. A tubemaker reached an agreement with...