On January 12th, the United States and Britain launched a joint attack on the Yemeni Husai armed forces, leading to further escalation of conflicts in the Red Sea region and continued pressure on freight costs. In addition, the month on month increase in mainstream export quotes from China has driven up the overall import prices of South American sheet materials this week. In this context, Brazilian National Steel Company (CSN) announced a price increase of 5.00-6.25% for hot rolled steel coils, cold rolled steel coils, and hot-dip galvanized coils starting from mid January. Considering that China’s steel exports to Brazil may decline this year,...

Recently, the price of rebar in Türkiye has shown an upward trend, and the domestic sales volume has increased significantly. Some products have also been exported to Yemen. In Izmir, Türkiye, the sales price of rebar is 610-615 dollars/ton EXW, and the export quotation of some steel mills is 630 dollars/ton FOB.After the earthquake on February 6, 2023, the General Administration of Mint and Printing of Türkiye proposed and implemented a monitoring system to ensure that the production, testing and use of rebar comply with the safety standards of construction and taxation. According to the initial regulations of the system,...

At present, some Indian buyers have ended their holidays and returned to the trading market, but due to high inventory, local hot rolled coil transactions in India are still sluggish. Last week, local hot rolled coil prices in India decreased by approximately $24USD/MT on a week on week basis, with ex factory prices ranging from $661-673USD/MT EXW. As of the date of publication, prices remained stable. The trading atmosphere is poor, and considering profits, some Indian steel mills have expressed willingness to even lower prices to export hot rolled coil in an effort to maintain local prices for hot rolled coil. In such a fundamental...

 On January 5, 2024, JSW Utkal Steel, a subsidiary of JSW Steel, announced that it had obtained a document from the forest officials of the Rajanogor Mangrove Department in Orissa, India, and successfully obtained the legal right to use 2677.80 acres of forest land. This batch of land will be used to build a comprehensive steel plant with an annual crude steel production capacity of 13.2 million tons. In September 2023, JSW obtained the revised and conditional approval from the Indian Ministry of Environment, Forests and Climate Change. The total investment for this project, including the construction of related steel...

 Kocaer Steel, a large steel profile and commercial bar producer in Türkiye, will suspend the production of Aliaga A1 Plant during the second phase of the investment plan (January 5 to March 5), and conduct commissioning of the investment project to put new machinery and equipment into use.In order to achieve its growth goals for the next few years, the company is making strategic investments in renewable energy and high value-added new products, and has stated that all necessary preparations have been completed to ensure that production and delivery targets for 2024 will not be affected due to production suspensions.Previously,...

Recently, the export market of Russian sheet metal has been trading actively. Due to the turbulent situation in the Red Sea, the hot rolled coils from nearby importing countries are more concerned by Türkiye’s traders than those from far away in China, which has provided some support for the rise in prices of related resources.The tradable price of the export resources of hot rolled coils from the Commonwealth of Independent States in Türkiye is between 595-620 dollars/ton FOB, a slight increase of 5-10 dollars/ton compared with last week. In addition, a batch of cold rolled coils from Russia were exported...

According to Mysteel, the recent tense situation in the Red Sea region has had a serious impact on China’s steel exports. Due to the attack by the Hussein organization, ships on the Red Sea route were suspended, which not only led to an increase in export costs but also affected steel orders for exporters and affected areas. Some ships are forced to divert to South Africa, and carriers who choose not to do so will face an additional 15% fee. Affected by the situation, the willingness of Chinese steel exporters to trade with Middle Eastern buyers has decreased, and shipping...

Today, the price of Chinese hot coils is stable and trending towards strength. As of the time of publication, the spot price of mainstream 3.0 hot coils in Shanghai is 4170 yuan/ton (584 US dollars).In terms of exports, the export quotations of large steel mills are all above 580 US dollars/ton FOB, which has some room for negotiation. Some steel mills are starting to accept export orders for the March shipping schedule next year. According to feedback from a Southeast Asian merchant to Mysteel, as the end of the year approaches and there are more holidays, although the demand for...

On December 18, 2023, the European Commission released details on the twelfth round of sanctions against Russia. Among them, the European Commission extended the quota for slab imports until September 30, 2028, and the ban on importing billets remained unchanged. Starting from April 1, 2024, the import of billets originating from Russia was prohibited.According to the documents of the European Commission, there are four stages of changes in the Russian slab quota from 2024 to 2028. The quota is 3.185 million tons from October 1, 2024 to September 30, 2023, 2.998 million tons from October 1, 2025 to September 30,...

Recently, influenced by seasonal factors, the demand for rebar in Türkiye has slowed down and the market has fallen into a downturn. At present, the mainstream price of rebar in Türkiye is US $610-620/ton FOB, the higher price of some resources is US $640/FOB, and the tradable price is US $600-610/ton FOB. No transaction has been heard yet. To stimulate consumption, some steel mills are willing to reach deals at lower prices. However, due to high raw material costs, the currently acceptable lowest price in the market remains at $600/ton FOB. In addition, some traders have stated that compared to...