Fastmarkets Steel Prices & News Daily 2023-11-23

Daily Market Newsletter
Thursday 23 November 2023
Steel prices & news

Source: dashboard.fastmarkets.com/m/ce24cc55-ee9d-4381-9784-bb 704fdd69
November 7, and Nucor followed to set a base price for hot band at $950 per
Top stories
ton on November 8.
US South HRC index nears $980/t These mill hikes have turbocharged all at-rolled steel sheet prices, sources
ceiling before Thanksgiving holiday said.
And while hot-dipped galvanized steel sheet is a much larger market than
By Rijuta Dey Bera - Wednesday 22 November Galvalume, prices for both coated products stand at similar levels because of
the overall trend of rising sheet prices, a producer said.
Hot-rolled coil prices in the US South continued to soar week on week and
came close to breaking the $980 per short ton threshold in the week Fastmarkets’ weekly price assessment for steel hot-dipped galvanized coil
leading up to the Thanksgiving holiday. (cold-rolled base), fob mill US has averaged $55.83 per cwt in November to
Fastmarkets’ weekly steel hot-rolled coil index, fob mill US South was date, up by 20.06% from an average of $46.50 per cwt in October.
calculated at $48.81 per hundredweight ($976.20 per short ton) on
Wednesday November 22, increasing by 4.59% from $46.67 per cwt one week “In a rising market, HDG and Galvalume prices come close together; the
earlier. di erence is pronounced in a declining at-rolled market,” the producer said,
adding that their “Galvalume lines are very full.”
In contrast, the Midwest hot-rolled coil index was calculated at $48.19 per A second producer agreed.
cwt ($963.80 per short ton) on Wednesday, up by 3.32% from $46.64 per cwt
on November 15. “The order book for Galvalume has been good for a couple of months now,”
the second producer told Fastmarkets.
This rapid rise in prices is supported by mills across the country keeping their
o er prices elevated, source said. A consumer said demand was “consistent but not overly large at this time, so
it hasn’t been an issue sourcing from the mill so far.”
“I am surprised at how strong the HRC market is,” a producer said, adding
that it “shows that the United Auto Workers labor strike against the Detroit A second distributor expressed similar sentiments.
automakers did not have the kind of impact that people thought it would
have.” “Demand is still squishy,” the second distributor said. “Customers are still
hopeful to get better spot prices for end-of-year deals. Some are nding
A distributor said they were being quoted a minimum of $1,000 per ton ($50 some spot deals because service centers are motivated to move some
per cwt) for hot band from both Midwest and South HRC mills. inventory for some odd reason when prices are way up in the rst quarter of
2024.”
The producer said the HRC spot market was at $47.50-48.00 per cwt range
now, but added that “if we were quoting a small, non-contract buyer, we will Alesha Alka in Washington and Dan Hilliard in Pittsburgh contributed to this
quote at $50 per cwt.” report.
US Galvalume price soars by $140/t in Steel HRC restocking limited in Europe,

November but mills still mull new price rises
By Rijuta Dey Bera - Wednesday 22 November By Julia Bolotova - Wednesday 22 November
US Galvalume prices rose by $140 per short ton in November, marking a Steel hot-rolled coil prices in Europe edged up slightly in deals on
second consecutive month of hot-band-driven price increases for the Wednesday November 22, with a bullish mood prevailing among sellers,
coated product. despite consumption levels remaining low, industry sources told
Fastmarkets.
Fastmarkets’ monthly price assessment for steel coil Galvalume, fob mill US
increased to $54 per hundredweight ($1,080 per short ton) on Tuesday Fastmarkets calculated its daily steel hot-rolled coil index, domestic, exw
November 20, up by 14.89% from $47 per cwt on October 17 and by 27.06% Northern Europe, at €659.75 ($721.73) per tonne on November 22, up by
from $42.50 per cwt in November 2022. €3.50 per tonne compared with €656.25 per tonne on Tuesday.
Inputs were heard in an approximate range of $50-65 per cwt. The index was up by €14.62 per tonne week on week and by €46.62 per tonne
month on month.
The month-on-month increase in hot band prices was the primary driver
behind Galvalume's jump, a distributor said. Transactions were reported at €650-660 per tonne ex-works in the region,
while buyers estimated the achievable price to be €650-670 per tonne ex-
Fastmarkets’ daily steel hot-rolled coil index, fob mill US Midwest was works.
calculated at $48.19 per cwt on Wednesday, up by 28.51% month on month
from $37.50 per cwt on October 17 and by 45.46% year on year from $33.13 But buyers were booking only small tonnages in the highly volatile market.
per cwt on November 15, 2022.
“We all understand that the recent price rises are entirely cost-driven,
Cleveland-Cli s set a minimum base price for HRC at $1,000 per ton on supported by reduced supplies,” a trader in the region said. “But without
This material is provided by Euromoney Global Limited (a company registered in England and Wales under number 142215) doing business as Fastmarkets MB and
Fastmarkets IM, and Metal Bulletin Holdings LLC doing business as Fastmarkets AMM, collectively referred to in the material as ‘Fastmarkets’.
It is provided to you subject to your compliance with the terms of your license agreement with Fastmarkets, in addition to the Fastmarkets Copyright Notice and Disclaimer.
If you need additional access please contact hello@fastmarkets.com © Fastmarkets 2023
Steel prices & news Daily Market Newsletter Thursday 23 November 2023 2
support from end-user demand, [price increases] might not be sustainable.”
Asian countries are the key consumers of Chinese steel products, representing
The most recent booking was still below integrated mill o ers in the region, around 75% of the whole export, Wenjiong said.
which were heard at €680 per tonne ex-works and at €700 per tonne ex-
works for January-delivery coil. He said that in recent years some manufacturing capacities were moved
from China to other Asian countries because the former country is in the
In general, lead times for HRC in Northern Europe varied between six and process of emissions reduction, therefore demand for steel from regional
eight weeks, Fastmarkets understands. customers is strong.
Despite a slow pace of restocking and subdued demand from end-users, Wenjiong also said the rise in export volumes from China is attributed to the
producers in Europe were planning to announce another round of price rises fact that Ukraine lost its share in the global market after Russia’s invasion of
for rst-quarter-delivery HRC, with o ers expected to be “above €700 per the country in 2022, which resulted in destruction of the national steel
tonne ex-works.” industry and blockade of sea ports, which were the main route of export for
Ukrainian mills.
“[Integrated mills in Europe] gave a price idea for February delivery of €730
per tonne ex-works,” a steel service center source told Fastmarkets. Domestic market
Wenjiong said the domestic long steel segment was under pressure due to the
In Southern Europe, Fastmarkets calculated its daily steel HRC index, weakening of China’s real estate market.
domestic, exw Italy, at €639.38 per tonne on Wednesday, up by €4.38 per
tonne from €635 per tonne on Tuesday.
“Two to three years ago, real estate represented 60% of steel consumption in
The index was up by €6.88 per tonne week on week and by €41.71 per tonne the country, while now it is 40%,” Wenjiong said.
month on month.
“Real estate investment dropped 9% this year, sales dropped by around 15%
Italian mills were o ering January-delivery HRC at prices no lower than €650 and land purchases fell dramatically,” he said, adding that demand from this
per tonne delivered in the local market, which would net back to about €635 sector will continue to decrease and will fall 5-6% in the upcoming year.
per tonne ex-works, market sources said.
Infrastructure investments may partially o set the decline in real estate
For February lead times, price ideas were closer to €680 per tonne delivered demand, he said.
(around €665 per tonne ex-works).
Wenjiong said central government spending could increase signi cantly in
Even though real consumption remained low in Italy, some sources said that 2024.
there were signs of a revival in buying interest in the spot market.
In October this year, China issued 1 trillion yuan of special treasury bonds to
“Even the most skeptical buyers see that the low prices are gone, [and] support infrastructure projects focused on water conservancy, which is
reduced domestic supplies and an uptrend in imports support the uptrend [in expected to lead to infrastructure growth as high as 5-10% in the rst half of
the domestic HRC market],” a source in Italy said. next year.
In the secondary market, prices for HR sheet started to pick up in the week to He said that “urban village renovation” and “a ordable housing” have been
November 22, to about €740-750 per tonne CPT, compared with €720-740 mentioned at many o cial meetings this year, with the former expected to
per tonne CPT a week earlier. boost real estate investment growth by 1-3% per year.
Overseas HRC suppliers to Europe were also seeking higher prices, with o ers The biggest support to the steel industry, however, will come from NEV
from Asia heard no lower than €620-630 per tonne CFR, for January production, he said, with the production of electric cars rising by 32% versus
shipment coil. 2022, which increased demand for at steel.
O ers from Indian mills were heard at €640-650 per tonne CFR to Italy, while Wenjiong said hot-rolled coil demand in China was likely to reach 348 million
HRC from Egypt was on o er in Italy at €620 per tonne CFR. tonnes in 2023 (up from 331 million last year), coated steel demand should
reach 142 million tonnes (compared with 133 million in 2022) and steel plate
demand should reach 162 million tonnes (compared to 157 million tonnes in
China’s steel output driven by exports, 2022).
rising NEV production: MEIS

Seaborne iron ore prices move up to
By Vlada Novokreshchenova - Wednesday 22 November highest levels since mid-June 2022;
The rise in Chinese steel output is mainly being driven by higher exports
and an increase in demand for at steel products from China’s
further upside expected
automotive sector, Dao Fortune’s chairman Yuan Wenjiong told delegates
at Fastmarkets’ Middle East Iron & Steel Conference in Dubai on Monday By Norman Fong - Wednesday 22 November
November 20.
Iron ore prices reached again posted record highs for 2023 on Wednesday
Wenjiong said the signi cant increase in new energy vehicle (NEV) production
November 22, with robust trading in both the seaborne and portside
was the main driver of the change.
markets. while buying sentiment was buoyed by the uptick in downstream
steel prices, sources told Fastmarkets.
Over the rst 10 months of 2023, the country produced 876 million tonnes of Key drivers
crude steel, which is 15 million tonnes higher than in the same period of 2022, The most-traded January iron ore futures contract on the Dalian Commodity
according to data from China’s National Bureau of Statistics. Exchange (DCE) traded up by 1.5% from the previous closing price of 978.50
yuan ($138) per tonne.
At the same time, steel export volume reached 75.47 million tonnes in
January-October 2023 versus 51.51 million tonnes in 2022.
And by 6:12pm Singapore time, the most-traded December contract on the
Singapore Exchange (SGX) moved up by $1.33 per tonne compared with the tonne unit (dmtu), unchanged
previous settlement price of $133.27 per tonne. 62% Fe nes, fot Qingdao: 1,021 yuan per wet metric tonne (implied 62% Fe
China Port Price: $133.42 per dry tonne), up by 7 yuan per wmt
Buying sentiment in the iron ore derivatives market continued to be 67.5% Fe pellet feed premium, cfr Qingdao: $6.40 per tonne, unchanged
exceptionally rm, with investors motivated by increasing prices in the 67.5% Fe pellet feed, cfr Qingdao: $160.23 per tonne, up $2.27 per tonne
downstream steel market and falling iron ore inventories in China's portside 65% Fe concentrate premium, cfr Qingdao: $0.30 per tonne, down $0.20 per
markets, according to a trader in Hong Kong. tonne
65% Fe concentrate, cfr Qingdao: $148.25 per tonne, up $2.07 per tonne
Derivatives market prices reacted positively to the news that the Chinese
government is expanding its nancial assistance to include larger, debt- Trades/o ers/bids heard in the market
stricken steel mills. BHP, globalORE, 80,000 tonnes of 62% Fe Newman nes, traded at $135.40
per tonne CFR China, laycan December 8-17
Country Garden Holdings, one of China’s largest property developers by sales
and assets, and Sino-Ocean Group have been included in China’s draft list of
50 developers eligible for a range of nancing support, signaling stronger Globalore, 100,000 tonnes of 62% Fe Pilbara Blend nes, traded at $135.20
support from the central government for some of the country’s most per tonne CFR China, laycan December 14-23
distressed property developers.
Vale, globalORE, 85,000 tonnes of 62% Fe Brazilian Blend nes, o ered at
Portside iron ore demand in China has rebounded in recent weeks compared $136 per tonne CFR China, laycan December 22-31
with the end of October, in line with stronger steel demand, and some
steelmakers are considering ramping up hot metal production once again. GlobalORE, 80,000 tonnes of 62% Fe Jimblebar blend nes, o ered at $132
per tonne CFR China, laycan December 16-25
A Shanghai-based analyst said that domestic reinforcing bar (rebar) prices
continued to be supported by steady demand from domestic buyers and Spot market, 80,000 tonnes of 65% Fe Iron Ore Carajas nes, traded late on
rebar warehouses. Tuesday at the December average of Fastmarkets’ index for iron ore 65% Fe
Brazil-origin nes, CFR Qingdao plus a premium of $1.40 per tonne, bill of
The analyst added that the expectation of stronger construction activity in lading dated November 5
the rst quarter of 2024 in response to additional government funding
towards China’s indebted developers, had fueled buying sentiment in the Vale, tender, 100,000 tonnes of 54.76% Fe Lump Ore Non-screened Guaiba,
downstream steel market. traded at $116.71 per tonne CFR China (on a 62% basis), bill of lading dated
November 13
“Strong market fundamentals in the downstream steel market have been
prompting more mills to ramp up production once again,” a Shanghai-based Market participant indications
trader said. “Hot metal production started to move lower in early November Fastmarkets' index for iron ore 62% Fe nes cfr Qingdao
due to weaker steelmaking margins,” Brazilian Blend nes: $134.20-135.21 per tonne
But the resurgence of demand for raw materials, amid tighter iron ore and Mac nes: $132.50-133.66 per tonne
coke supplies in the domestic market, has resulting in stronger demand for Jimblebar nes: $129.00-130.78 per tonne
imported cargoes, according to a trader in Singapore.
Fastmarkets' index for iron ore 65% Fe Brazil-origin nes cfr Qingdao
Trading activity in the seaborne market was similarly rm in line with higher Iron Ore Carajas: $145.50-150.00 per tonne
seaborne prices and more xed-priced cargoes with a December laycan were
o ered on trading platforms, while there was also an uptick in secondary Fastmarkets' index for iron ore 67.5% Fe pellet feed premium, cfr Qingdao
market cargoes being o ered on the trading platforms. Minas Rio BFPF Pellet Feed: $1.00 per tonne
Atacama CNN Pellet Feed: $1.75-3.00 per tonne
“Buying interest in the seaborne market is quite strong because the import Romeral Pellet Feed: $4.00-5.00 per tonne
arbitrage in the Chinese portside market has been rather healthy over the Huasco Premium Pellet Feed: $6.50-7.00 per tonne
past few days,” a second Singapore-based trader said. “The appreciation of Shougang Hierro Peru Pellet Feed: $6.50 per tonne
the yuan against the US dollar has also supported interest in imports.” Kaunis Pellet Feed: $6.20-6.50 per tonne
Metinvest 68% Pellet Feed: $5.00-6.50 per tonne
Concentrates, pellet feed
Trading activity for high-grade pellet feed material has been relatively thin Fastmarkets' index for iron ore 65% Fe concentrate premium, cfr Qingdao
since the start of the trading week, however, with o ers for December and Citic Paci c Concentrate: $4.00-6.00 per tonne
January arrival cargoes mostly holding steady at a premium of $6.50-7 per ArcelorMittal Concentrate: $(3.50) to $(2.50) per tonne
tonne, based on a 65% Fe basis, and sellers are showing little signs of Champion Iron Concentrate: $(3.50) to $(2.50) per tonne
lowering their o ers. SIMEC Concentrate: $6.20 per tonne
Port prices
“Pellet feed premiums are ultimately stuck between the $6-7 per tonne, with Pilbara Blend nes were traded at 1,000-1,018 yuan per wmt in Shandong
sellers unwilling to lower their o ers despite an increase in number of o ers in province and the ports of Tangshan city on Wednesday, compared with 997-
the market,” a third Singapore-based trader said. “Buyers are less willing to 1,010 yuan per wmt on Tuesday.
pay such a high premium for capsize cargoes as there is an inherent risk of a
sudden plunge in prices,”
The latest range is equivalent to about $131-133 per tonne in the seaborne
Fastmarkets iron ore indices market.
62% Fe nes, cfr Qingdao: $135.49 per tonne, up $1.46 per tonne
Dalian Commodity Exchange
62% Fe low-alumina nes, cfr Qingdao: $135.05 per tonne, up $1.39 per tonne The most-traded January iron ore futures contract on the exchange closed at
58% Fe nes high-grade premium, cfr Qingdao: $126.76 per tonne, up $1.41 993.50 yuan ($140) per tonne on Wednesday, up by 15 yuan from the previous
per tonne closing price.
65% Fe Brazil-origin nes, cfr Qingdao: $148.29 per tonne, up $1.33 per tonne
63% Fe Australia-origin lump ore premium, cfr Qingdao: $0.20 per dry metric
Zheng Shu Yi in Singapore contributed to this article. holiday, celebrated Thursday November 23.
While minimal trading was reported this past week, the market strengthened
Hydrogen use will reduce steel carbon on higher reported o ers, and sources expect this upward trajectory to
continue through the remainder of the year.
emissions by 75%, says Hadeed: MEIS
Fastmarkets’ weekly price assessment for steel hot-dipped galvanized coil
(cold-rolled base), fob mill US increased to $60 per cwt ($1,200 per ton) on
By Serife Durmus - Wednesday 22 November
Wednesday, up by 4.35% from $57.50 per cwt on November 16.
Use of green hydrogen will reduce carbon emission in steel production by
75%, Abdullah Al Shahrani, senior manager of research and technology at Inputs were collected in a range of $60.00-62.50 per cwt, representing deals
steel producer Hadeed SABIC, said during his presentation at on the lower end of the range, o ers and indications.
Fastmarkets’ Middle East Iron & Steel Conference in Dubai on Monday
November 20. Lead times for the pair of tandem products were reported at eight to 10
weeks.
During his presentation, Al Shahrani said natural gas direct reduced (DR) iron
and then the electric arc furnace (EAF) production route reduces carbon
Fastmarkets’ weekly assessment for steel hot-dipped galvanized coil (hot-
intensity of liquid steel output by 50% in comparison with the conventional
rolled base), fob mill US increased by 4.67% to $56 per cwt from $53.50 per
blast furnace (BF) to basic oxygen furnace (BOF) route.
cwt the week before.
Prices for the coated products remained supported by tight supply during the
The BF and BOF route emits about 1,765 kg of carbon per tonne of steel, while
week, sources said.
DRI and EAF route emits 940 kg per tonne. If green hydrogen is used with DR
and EAF, emissions fall to 437 kg per tonne.
US Midwest HRC weekly average continues climb; spreads vs HRC
narrow
The challenges of switching to hydrogen based reduction in steelmaking
Hot-rolled coil prices in the Midwest US continued rising in the latest
would be high capital expenditure, limited availability of green hydrogen at
assessment period, with sources reporting that most mills have been holding
competitive price and technical risk because there are no commercial
rm on elevated o er levels.
production facilities in operation, Al Shahrani said.
Fastmarkets’ daily steel hot-rolled coil index, fob mill US Midwest averaged
But these challenges can be overcome by a joint study for piloting, scaling up
$47.24 per cwt in the assessment period from November 17 to November 22,
and setting business cases for local and global competitiveness, and
up by 2.92% from $45.90 per cwt in the previous window.
regulations for market maturity, the senior manager said.
The rise in prices for CRC and HDG outpaced that of HRC, widening the
Saudi Aramco signed a joint development agreement with SLB and Linde to
spread between those products and hot band.
establish carbon capture and a storage hub in November 2022 in the Saudi
city of Jubail to store up to 9 million tonnes of carbon dioxide per year by
The spread between CRC and HRC increased by 1.38% to $11.76 per cwt from
2027, Al Shahrani said. The facility will provide a signi cant amount of carbon
$11.60 per cwt in the last assessment. Meanwhile, the spread between cold-
captured in Saudi Arabia.
rolled base HDG and HRC increased by 10% to $12.76 per cwt from $11.60 per
cwt in the previous assessment.
Hadeed has DRI facility with a production capacity of about 5.3 million
tonnes per year, and crude steel production capacity of 6 million tpy. The
CRC, HDG import prices rise
company is targeting zero carbon emissions by 2050.
Prices for imported CRC and HDG also increased in the two weeks to
November 22.
The mill has a waste heat recovery system, as well as an o -gas analyzer
system to enable reduced energy use, Al Shahrani said.
Fastmarkets’ assessment for steel cold-rolled coil, import, ddp Houston
climbed to $950-1,000 per short ton ($47.50-50.00 per cwt) on Wednesday,
Hadeed is owned by Saudi Arabia’s Saudi Basic Industries Corp (SABIC), but it
up by 5.98% from $900-940 per ton on November 8.
will sell 100% of Hadeed to the Public Investment Fund, SABIC said on
September 3. The sale is expected to be nalized in the rst quarter of 2024,
Similarly, the assessment for steel hot-dipped galvanized 0.012-inch G30, ddp
according to a company stock exchange release at the time.
Houston increased to $1,130-1,220 per ton ($56.50-61.00 per cwt), up by
1.73% from $1,100-1,200 per ton on November 8.
US CRC, HDG prices climb further; Lead times for those products are as far out as the second quarter of next
spreads vs HRC widen year, sources said.
By Alesha Alka - Wednesday 22 November
Prices for cold-rolled coil and hot-dipped galvanized steel sheet in the
United States climbed in the assessment period ended Wednesday
November 22, widening the spread between the pair of tandem products
and hot-rolled coil.
Fastmarkets’ weekly price assessment for steel cold-rolled coil, fob mill US
increased to $59 per hundredweight ($1,180 per short ton) on November 22,
up by 2.61% from $57.50 per cwt on November 16.
Inputs were collected in a range of $55.00-62.50 per cwt, representing o ers

and indications.
The cold-rolled steel market was generally quiet ahead of the US Thanksgiving
Heard in the market
US Midwest HRC buyers need holiday to The US HRC market was reportedly quiet ahead of the Thanksgiving holiday,
celebrated Thursday November 23, due to both the holiday itself and to a
digest mill hikes: sources wait-and-see mill attitude regarding spot ton availability for January
shipments.
By Dan Hilliard - Wednesday 22 November

At least some buyers expect spot availability to remain limited and o ers to
With the domestic hot-rolled coil market winding down ahead of the US
hold in the $950- to $1,000-per-ton range through year-end, though a late-
Thanksgiving holiday, hot band prices in the US Midwest ticked up only
year increase to shore up extant list prices is not o the table.
slightly on Wednesday November 22, but some buyers expect an extra
helping of upward pressure by year-end due to mills targeting a price level
Price momentum remains generally upward, but the trend is supported by
of $1,000 per short ton.
limited supply rather than high demand, Fastmarkets understands. And the
Fastmarkets’ daily steel hot-rolled coil index, fob mill US Midwest, was normal seasonal lull has been compounded by large-volume purchases made
calculated at $48.19 per hundredweight ($963.80 per short ton) on ahead of the recent price run-up, softening momentum toward the mills'
November 22, up by 1.24% from $47.60 per cwt on November 21 and by goal of $1,000 per ton.
3.32% from $46.64 per cwt a week prior on November 15.
Lead times remain out to January 2024.
Indications were collected in the buyer sub-indices in a range of $47.50-50.00 Quote of the day
per cwt. Inputs were carried over in the buyer and seller sub-index to “Perhaps some of the air is out of the balloon as the mills are allowing time
minimize day-to-day volatility and due to a lack of liquidity respectively. for the recent price run-up to be digested,” one buy-side source said.
labor strife. Cleveland-Cli s raised its minimum base price for HRC to $1,000
Hot-rolled coil news
per ton on Tuesday November 7. Nucor followed, setting a base hot band
price at $950 per ton on November 8.
US hollow sections market stable ahead
of holiday The quick-strike increases caught some HSS buyers o guard.
“Distributors had halted buying, trying to time the low end of the market,”
By Mark Burgess - Wednesday 22 November the producer said. “This changed so fast [that] a lot of buyers were caught
short on inventory.”
US steel hollow structural sections (HSS) prices was steady for the second
consecutive week, with market participants digesting three price
increases in the past six weeks. European CRC, HDG prices supported
Fastmarkets’ weekly assessment for steel hollow sections, ASTM A500 Grade
B domestic, fob mill US was at week on week at $1,400-1,480 per short ton by limited restocking; real demand
($70-74 per hundredweight) on Wednesday November 22, ahead of the
Thanksgiving holiday.
remains subdued
By Julia Bolotova - Wednesday 22 November
While buying activity has picked up in the past month and some sources
believe another HSS increase could come post-Thanksgiving, true The domestic prices for downstream at steel products in Europe were
fundamental demand appears somewhat muted ahead of the spring stable to slightly higher in the week to Wednesday November 22, despite
construction season. producers’ push for substantial rises, sources told Fastmarkets.
Slow end-user demand was the principal factor dragging on European
“Increased activity in the market is being led by buyers attempting to get domestic cold-rolled coil and hot-dip galvanized coil prices, sources said.
ahead of further price increases,” a producer source said.
“My belief is [that] when all the buying is done, order entry will be a trickle However, restocking and a lower supply due to output cuts allowed European
compared to what it has been for the last few months,” the producer source mills to get small gains in CRC and HDG trading in November.
said. “I hope demand picks up in the rst quarter of 2024.”
European producers were also busy negotiating long-term contracts with end
A little more than a month after pricing slipped to $1,130-1,180 per ton on users for the rst half of 2024, and were said to be looking for €750 ($820)
October 12 — the lowest Fastmarkets-assessed price since December 2020 — per tonne for hot-rolled coil — feedstock for CRC production — and €850 per
HSS prices have increased by 24.68%. tonne for HDG coil, in line with at steel contracts for the second half of
2023.
During the same timeframe, Fastmarkets' daily steel hot-rolled coil index, fob
mill US Midwest has increased from $736.20 per ton on October 12 to $963.80 “Mills want to push the spot market higher, in line with automotive
per ton ($48.19 per hundredweight) on Wednesday November 22, up by contracts,” a trading source said.
30.91%.
In Northern Europe, local producers were o ering around €770-780 per tonne
“The hope [from HSS producers] was for HRC to have an increase this week, ex-works for CRC and €790-800 per tonne ex-works for HDG.
setting up an HSS increase for the rst week of December,” a distributor said.
“It’s still in the cards, but less likely now.” Deals, however, were reported at lower levels — at €750-755 per tonne ex-
works for CRC and €770 per tonne ex-works for HDG.
HRC mills announced a urry of price increases in late October and early
November, capitalizing in part on the recent end to United Auto Workers Lead times for both products were minimum 8 weeks, sources said.
Fastmarkets’ weekly price assessment for steel cold-rolled coil domestic, exw
Northern Europe was €750-755 per tonne on Wednesday, up by €5-10 per HRC prices rose above $950 per ton on Tuesday, with mills maintaining HRC
tonne from €740-750 per tonne seven days earlier. o ers at $1,000 per ton and fueling the current upward trajectory, which
could last through the rst quarter of 2024, sources said.
And the corresponding weekly price assessment for steel hot-dipped
galvanized coil domestic, exw Northern Europe was €770-780 per tonne on Fastmarkets’ steel hot-rolled coil index, fob mill US Midwest averaged $46.75
Wednesday, narrowing upward by €20 per tonne from €750-780 per tonne in per cwt during the assessment period ended on Tuesday, higher by 3.12%
the same comparison. from an average of $45.34 per cwt one week earlier.
Meanwhile, competitive o ers from overseas suppliers were putting Increasing hot-rolled coil prices on the week against a at plate market
additional pressure on European prices. The strengthening of the euro against narrowed the spread between the two products to $19.75 per cwt, down by
the US dollar has also made import more attractive recently. 6.66% from $21.16 per cwt one week earlier.
The currency strengthened to $1.094 per €1 on November 22, compared with Fastmarkets' cut-to-length assessment includes raw materials surcharges.
$1.077 per €1 on November 15, according to currency exchange website
Oanda.
Chinese HRC prices fall on previous
A transaction for a limited tonnage of Japan-origin coil with end-January
shipment was reported at around €695-699 per tonne CFR to Southern day’s futures retreat
Europe during the assessment week.
By Zihuan Pan - Wednesday 22 November
Suppliers from South Korea reportedly withdrew from the market and were
expected to come back with higher o ers shortly. Price ideas were no lower Spot prices for Chinese hot-rolled coil moved lower on Wednesday
than €710-730 per tonne CFR to Europe for February shipment. November 22, in the wake of a pullback in futures prices for the at steel
product on the previous day, sources told Fastmarkets.
Turkish suppliers, however, were able to o er December shipment, January
Domestic
delivery CRC at €710 per tonne CFR.
Fastmarkets’ price assessment for steel hot-rolled coil domestic, ex-whs
Eastern China (Shanghai) was 3,960-3,970 yuan ($557-558) per tonne on
A Vietnamese supplier was o ering $840-850 per tonne CFR for 0.5mm HDG
Wednesday, down by 20 yuan per tonne from 3,980-3,990 yuan per tonne on
with Z140 coating for late January shipment.
Tuesday.
US plate prices unchanged; spread vs The most-traded January HRC contract on the Shanghai Futures Exchange
HRC narrows hovered in a narrow range before jumping in the nal hour before closing bell
on Wednesday. This came after a retreat on Tuesday.
By Alesha Alka - Wednesday 22 November Emerging concerns over a potential seasonal slowdown in demand weighed
on SHFE HRC prices, after stimulus hopes pushed prices to the highest level in
Carbon steel plate prices in the US were unchanged on Tuesday November more than three months, market participants said.
21, with market sources reporting stable demand, ample supply and thin
service center levels. But expectations for more stimulus measures from the Chinese government
Fastmarkets’ weekly assessment for steel cut-to-length plate carbon grade, to underpin the ailing property sector and shore up the economy remain and
fob mill US was unchanged at $66.50 per hundredweight ($1,330 per short have limited downside room in prices, market participants added.
ton) on Tuesday, after falling by 2.21% from $68 per cwt two weeks earlier, on
November 7. A rally in iron ore, the key steelmaking raw material, was likely cause of the
rebound in SHFE HRC prices during afternoon trading on Wednesday, a trader
in eastern China said.
Inputs were collected in a range from $63.50-69.50 per cwt, representing
deals and assessments. The most-traded iron ore contract on the Dalian Commodity Exchange rose
for a third straight trading day on Wednesday, closing at 993.5 yuan per
Despite reportedly stable demand, the plate market continued to be weighed tonne – the highest closing price in more than two years.
down by ample supply, sources said.
Export
Service center inventory levels are thin, and some buyers are placing orders to Fastmarkets calculated its steel hot-rolled coil index export, fob main port
replenish stock, a distributor said. China at $565 per tonne on Wednesday, unchanged from Tuesday.
“Underlying demand has been there for a while; people ran inventories down,
trade inventories with other service centers, but at the end of the day, plate Trading for Chinese HRC exports remained muted so far this week, with
inventories are low. People are putting in some last-minute buys,” a uncertainty surrounding exchange rates and SHFE HRC prices keeping traders
distributor said. and overseas buyers on the sidelines.
“Certain mills [are] trying to hold the line on their published price,” a second Most traders continued to refrain from making o ers in fears of losses if the
distributor said. prices extend their rally.
Lead times are reportedly three to four weeks. O ers from traders and small, privately-owned mills were at $550-571 per
tonne FOB China for 3mm SS400 HRC on Wednesday, narrowing downward
Midwest HRC climbs, spread vs plate narrows from $550-576 per tonne FOB due to the moderate decline in domestic prices.
Meanwhile, hot-rolled coil prices in the US Midwest increased during the
assessment period, November 15-21, narrowing the price spread between Larger, state-owned mills, meanwhile, kept their o ers unchanged at $570-
HRC and plate. 580 per tonne FOB China for 3mm SS400-base, compared with the previous
day. Market chatter
“The recent introduction of stimulus measures is expected to keep [steel]
Overseas buyers have yet to accept the recent increase in o ers for Chinese consumption resilient. That, coupled with the high prices for [steelmaking]
cargoes and were still in wait-and-see mode, a trader in eastern China said. raw materials, will likely bolster steel prices,” an industry analyst in eastern
China said.
Deals were heard to be concluded at $545 per tonne FOB China for Q195 HRC
earlier this week, and market participants indicated that buyers’ price
expectations are unlikely to exceed $550 per tonne FOB for SS400 or Q195 Shanghai Futures Exchange
HRC now. The most-traded January HRC futures contract closed at 4,059 yuan per
tonne on Wednesday, up by 42 yuan per tonne from Tuesday’s close of 4,017
yuan per tonne.
Hot-rolled steel prices

Symbol Description Date Price +/- Month Monthly Average
MB-STE-0028 Steel hot-rolled coil index domestic, exw Northern Europe, €/tonne 22 Nov 2023 659.75 0.53% Oct 2023 616.63
MB-STE-0046 Steel hot-rolled coil import, cfr main port Northern Europe, €/tonne 22 Nov 2023 620 - 640 2.44% Oct 2023 588.75 - 600
MB-STE-0047 Steel hot-rolled coil import, cfr main port Southern Europe, €/tonne 22 Nov 2023 620 - 630 1.63% Oct 2023 581.25 - 600
MB-STE-0532 Steel hot-rolled coil domestic, exw Central Europe, €/tonne 22 Nov 2023 640 - 650 0.39% Oct 2023 607.5 - 620
MB-STE-0892 Steel hot-rolled coil index domestic, exw Italy, €/tonne 22 Nov 2023 639.38 0.69% Oct 2023 600.08
MB-STE-0893 Steel hot-rolled coil domestic, exw Spain, €/tonne 22 Nov 2023 640 - 650 0.78% Oct 2023 605 - 621.25
MB-STE-0107 Steel hot-rolled coil export, fob main port Turkey, $/tonne 17 Nov 2023 640 - 660 1.56% Oct 2023 627.5 - 647.5
MB-STE-0105 Steel hot-rolled coil import, cfr main port Turkey, $/tonne 17 Nov 2023 580 - 600 0.00% Oct 2023 557.5 - 582.5
MB-STE-0108 Steel hot-rolled coil domestic, exw Turkey, $/tonne 17 Nov 2023 650 - 670 0.00% Oct 2023 627.5 - 650
MB-STE-0014 Steel hot-rolled coil export, fob Black Sea, CIS, $/tonne 20 Nov 2023 555 - 585 1.79% Oct 2023 563 - 577
Steel hot-rolled sheet domestic, cpt Moscow, Russia, rubles/tonne

MB-STE-0065 02 Oct 2023 64000 - 67600 0.00% Oct 2023 64000 - 66800
incl. VAT
MB-STE-0184 Steel hot-rolled coil index, fob mill US Midwest, $/cwt 22 Nov 2023 48.19 1.24% Oct 2023 37.21
MB-STE-0903 Steel hot-rolled coil index, fob mill US South, $/cwt 22 Nov 2023 48.81 4.59% Oct 2023 37.01
MB-STE-0180 Steel hot-rolled coil, import, ddp Houston, $/short ton 22 Nov 2023 840 - 900 10.13% Oct 2023 655 - 715
MB-STE-0007 Steel hot-rolled coil domestic monthly, exw Brazil, reais/tonne 10 Nov 2023 3850 - 4000 0.00% Oct 2023 3850 - 4000
Steel hot-rolled coil (dry) export, fob main port Latin America,
MB-STE-0133 17 Nov 2023 550 - 560 0.00% Oct 2023 535 - 555
$/tonne
MB-STE-0102 Steel hot-rolled coil import, cfr main ports South America, $/tonne 17 Nov 2023 600 - 635 0.41% Oct 2023 582.5 - 613.75
MB-STE-0444 Steel hot-rolled coil import, cfr main port India, $/tonne 17 Nov 2023 600 - 605 1.69% Oct 2023 582.5 - 587.5
MB-STE-0445 Steel hot-rolled coil (CR grade) import, cfr main port India, $/tonne 17 Nov 2023 610 - 615 4.70% Oct 2023 592.5 - 602.5
Steel hot-rolled coil (commodity) export, fob main port India,

MB-STE-0442 17 Nov 2023 640 - 655 0.00% Oct 2023 600 - 640
$/tonne
MB-STE-0436 Steel hot-rolled coil domestic, ex-whse India, rupees/tonne 17 Nov 2023 58500 - 59500 0.00% Oct 2023 58500 - 59500
MB-STE-0158 Steel hot-rolled coil domestic, exw Northern China, yuan/tonne 17 Nov 2023 3960 - 3970 1.80% Oct 2023 3743.33 - 3766.67
MB-STE-0144 Steel hot-rolled coil index export, fob main port China, $/tonne 22 Nov 2023 565 0.00% Oct 2023 527.55
MB-STE-0154 Steel hot-rolled coil domestic, ex-whs Eastern China, yuan/tonne 22 Nov 2023 3960 - 3970 -0.50% Oct 2023 3755.29 - 3770
MB-STE-0139 Steel hot-rolled coil import, cfr Vietnam, $/tonne 17 Nov 2023 580 - 585 4.02% Oct 2023 553.75 - 562.5
Steel hot-rolled coil (Japan, Korea, Taiwan-origin), import, cfr

MB-STE-0888 17 Nov 2023 600 - 610 3.86% Oct 2023 581.25 - 596.25
Vietnam, $/tonne
MB-STE-0125 Steel hot-rolled coil import, cfr Jebel Ali, UAE, $/tonne 21 Nov 2023 605 - 620 2.94% Oct 2023 572 - 600
MB-STE-0113 Steel hot-rolled coil import, cfr Saudi Arabia, $/tonne 21 Nov 2023 640 - 650 1.18% Oct 2023 619.8 - 630
Cold-rolled steel prices

MB-STE-0005 Steel cold-rolled coil domestic monthly, exw Brazil, reais/tonne 10 Nov 2023 4400 - 4600 0.00% Oct 2023 4400 - 4600
MB-STE-0012 Steel cold-rolled coil export, fob Black Sea, CIS, $/tonne 20 Nov 2023 640 - 670 1.55% Oct 2023 648 - 662
MB-STE-0026 Steel cold-rolled coil domestic, exw Northern Europe, €/tonne 22 Nov 2023 750 - 755 1.01% Oct 2023 705 - 718.75
MB-STE-0027 Steel cold-rolled coil domestic, exw Southern Europe, €/tonne 22 Nov 2023 735 - 740 0.68% Oct 2023 702.5 - 710
MB-STE-0044 Steel cold-rolled coil import, cfr main port Northern Europe, €/tonne 22 Nov 2023 695 - 710 0.72% Oct 2023 672.5 - 687.5
MB-STE-0045 Steel cold-rolled coil import, cfr main port Southern Europe, €/tonne 22 Nov 2023 695 - 710 0.72% Oct 2023 670 - 680
Steel cold-rolled sheet domestic, cpt Moscow, Russia, rubles/tonne incl.

MB-STE-0064 02 Oct 2023 76500 - 79500 0.00% Oct 2023 75750 - 77875
VAT
MB-STE-0103 Steel cold-rolled coil import, cfr main ports South America, $/tonne 17 Nov 2023 680 - 715 3.33% Oct 2023 640 - 662.5
MB-STE-0106 Steel cold-rolled coil import, cfr main port Turkey, $/tonne 17 Nov 2023 675 - 690 0.00% Oct 2023 676.25 - 685
MB-STE-0109 Steel cold-rolled coil domestic, exw Turkey, $/tonne 17 Nov 2023 730 - 760 0.00% Oct 2023 715 - 740
MB-STE-0124 Steel cold-rolled coil import, cfr Jebel Ali, UAE, $/tonne 21 Nov 2023 670 - 680 1.50% Oct 2023 639 - 660
MB-STE-0132 Steel cold-rolled coil export, fob main port Latin America, $/tonne 03 Nov 2023 665 - 670 -5.32% Oct 2023 700 - 710
MB-STE-0145 Steel cold-rolled coil export, fob China main port, $/tonne 21 Nov 2023 640 - 660 0.78% Oct 2023 615 - 630
MB-STE-0153 Steel cold-rolled coil domestic, ex-whs Eastern China, yuan/tonne 17 Nov 2023 4750 - 4800 0.10% Oct 2023 4710 - 4760
MB-STE-0181 Steel cold-rolled coil, import, ddp Houston, $/short ton 22 Nov 2023 950 - 1000 5.98% Oct 2023 830 - 850
MB-STE-0185 Steel cold-rolled coil, fob mill US, $/cwt 22 Nov 2023 59 2.61% Oct 2023 46.25
MB-STE-0435 Steel cold-rolled coil domestic, ex-whse India, rupees/tonne 17 Nov 2023 63500 - 64500 0.00% Oct 2023 63500 - 64500
MB-STE-0443 Steel cold-rolled coil import, cfr main port India, $/tonne 17 Nov 2023 630 - 640 -0.78% Oct 2023 626.25 - 636.25
Galvanized steel prices

MB-STE-0883 Steel hot-dipped galvanized coil (hot-rolled base), fob mill US, $/cwt 22 Nov 2023 56 4.67% Oct 2023 42.63
MB-STE-0780 Steel hot-dipped galvanized export, fob Turkey, $/tonne 17 Nov 2023 800 - 820 1.89% Oct 2023 790 - 811.25
MB-STE-0434 Steel hot-dipped galvanized coil domestic, ex-whse India, rupees/tonne 17 Nov 2023 70500 - 71500 0.00% Oct 2023 70500 - 71500
Steel hot-dipped galvanized coil domestic, exw Southern Europe,

MB-STE-0031 22 Nov 2023 750 - 760 1.34% Oct 2023 717.5 - 730
€/tonne
Steel hot-dipped galvanized coil import, cfr main ports South America,
MB-STE-0104 17 Nov 2023 730 - 750 0.00% Oct 2023 716.25 - 745
$/tonne
Steel hot-dipped galvanized coil import, cfr main port Northern Europe,
MB-STE-0091 22 Nov 2023 790 - 795 0.00% Oct 2023 785 - 795
€/tonne
Steel hot-dipped galvanized coil domestic, ex-whs Eastern China,

MB-STE-0021 17 Nov 2023 5100 - 5150 0.10% Oct 2023 5050 - 5106.67
yuan/tonne
MB-STE-0110 Steel hot-dipped galvanized coil domestic, exw Turkey, $/tonne 17 Nov 2023 800 - 820 1.89% Oct 2023 790 - 811.25
Steel hot-dipped galvanized coil import, cfr main port Southern Europe,
MB-STE-0048 22 Nov 2023 770 - 795 -0.63% Oct 2023 786.25 - 796.25
€/tonne
Steel hot-dipped galvanized coil domestic, exw Northern Europe,

MB-STE-0030 22 Nov 2023 770 - 780 1.31% Oct 2023 725 - 732.5
€/tonne
MB-STE-0123 Steel hot-dipped-galvanized coil import, cfr Jebel Ali, UAE, $/tonne 21 Nov 2023 770 - 810 0.00% Oct 2023 776 - 818
MB-STE-0186 Steel hot-dipped galvanized coil (cold-rolled base), fob mill US, $/cwt 22 Nov 2023 60 4.35% Oct 2023 46.5
Steel hot-dipped galvanized coil domestic monthly, exw Brazil,

MB-STE-0006 10 Nov 2023 5000 - 5800 -9.24% Oct 2023 5800 - 6100
reais/tonne
MB-STE-0441 Steel hot-dipped galvanized coil export, fob main port India, $/tonne 17 Nov 2023 790 - 810 0.00% Oct 2023 790 - 810
MB-STE-0182 Steel hot-dipped galvanized 0.012 inch G30, ddp Houston, $/short ton 22 Nov 2023 1130 - 1220 1.73% Oct 2023 1200 - 1280
Steel hot-dipped galvanized coil 0.03-0.13 inch G90 (cold-rolled base),

MB-STE-0212 22 Nov 2023 68 3.82% Oct 2023 54.5
fob mill US, $/cwt
MB-STE-0009 Steel galvanized coil 1mm export, fob main port China, $/tonne 21 Nov 2023 690 - 725 2.54% Oct 2023 658.75 - 692.5
MB-STE-0111 Steel prepainted galvanized domestic, exw Turkey, $/tonne 17 Nov 2023 900 - 930 2.23% Oct 2023 891.25 - 907.5
MB-STE-0187 Steel coil Galvalume, fob mill US, $/cwt 21 Nov 2023 54 14.89% Oct 2023 47
MB-STE-0850 Steel coil Galvalume import, cfr main ports South America, $/tonne 17 Nov 2023 790 - 810 0.00% Oct 2023 782.5 - 802.5
Steel plate prices

MB-STE-0034 Steel domestic plate 8-40mm, exw Northern Europe, €/tonne 22 Nov 2023 800 - 810 1.26% Oct 2023 770 - 797.5
MB-STE-0035 Steel domestic plate 8-40mm, exw Southern Europe, €/tonne 22 Nov 2023 720 - 730 0.69% Oct 2023 680 - 695
MB-STE-0049 Steel plate (8-40mm) import, cfr main port Northern Europe, €/tonne 22 Nov 2023 660 - 700 0.00% Oct 2023 665 - 670
MB-STE-0050 Steel plate (8-40mm) import, cfr main port Southern Europe, €/tonne 22 Nov 2023 650 - 680 -1.48% Oct 2023 650 - 665
MB-STE-0101 Steel plate import, cfr main ports South America, $/tonne 17 Nov 2023 650 - 695 0.00% Oct 2023 622.5 - 682.5
Steel heavy plate (thicker than 10mm) export, fob main port Latin
MB-STE-0134 03 Nov 2023 640 - 650 0.00% Oct 2023 640 - 650
America, $/tonne
MB-STE-0146 Steel heavy plate export, fob China main port, $/tonne 21 Nov 2023 560 - 575 1.34% Oct 2023 537.5 - 555
MB-STE-0155 Steel plate domestic, ex-whs Eastern China, yuan/tonne 17 Nov 2023 3940 - 3980 2.06% Oct 2023 3766.67 - 3816.67
MB-STE-0172 Steel cut-to-length plate carbon grade, fob mill US, $/cwt 21 Nov 2023 66.5 0.00% Oct 2023 71.1
MB-STE-0179 Steel medium plate, import, ddp Houston, $/short ton 22 Nov 2023 1180 - 1240 -2.42% Oct 2023 1125 - 1195
MB-STE-0437 Steel heavy plate domestic, ex-whse India, rupees/tonne 17 Nov 2023 61500 - 64500 0.00% Oct 2023 61500 - 64500
MB-STE-0439 Steel heavy plate 12-40mm export, fob main port India, $/tonne 17 Nov 2023 670 - 685 0.00% Oct 2023 722.5 - 732.5
MB-STE-0446 Steel heavy plate 10-40mm import, cfr main port India, $/tonne 17 Nov 2023 630 - 640 0.00% Oct 2023 678.75 - 691.25
MB-STE-0514 Steel plate domestic, cpt Moscow, Russia, rubles/tonne incl. VAT 02 Oct 2023 76000 - 79500 0.00% Oct 2023 76000 - 79500
Rebar news
US-origin deals concluded on the basis of these prices would be equivalent to
US ferrous scrap export market shows $390-392 per tonne CFR, given the broad $5 per tonne premium that US
continued strength material commands over that of European suppliers.
This would constitute a $2-4 per tonne increase from the last-reported US
By Amy Hinton - Wednesday 22 November deal to the region on an 80:20 basis, on Monday November 20, in which the
same mix of those grades was estimated at $388 per tonne CFR — the sale
Positive signs prevail in the US deep-sea ferrous scrap export market, with itself was for HMS 1&2 (90:10), priced at $393 per tonne CFR.
Turkish buyers already securing material to ful l their January scrap
quotas at a steady increase and o ers accumulating at higher levels from Higher o ers have been heard out of Turkey for export rebar ahead of
the West Coast to India and Bangladesh based on recent transaction Fastmarkets’ next assessment on November 23, hitting $585-590 per tonne
prices. FOB actual weight.
While no US deep-sea ferrous scrap deals have been heard concluded to
Turkey ahead of the US Thanksgiving holiday on November 23, a trio of Deals concluded on this basis would represent a 3.07%, or $10-25 per tonne,
higher-priced ex-Europe cargoes have been heard sold to Turkey on November increase from Fastmarkets’ most recently published assessment for rebar
20-21, with HMS 1&2 (80:20) priced in the range of $385-387 per tonne CFR shipped basis FOB main port Turkey.
after the last such US sale to the region emerged.
Fastmarkets last assessed the price of steel reinforcing bar (rebar) export, fob
main port Turkey at $560-580 per tonne on November 16, up by 0.89% from yard buying price, delivered to yard Los Angeles remained at $185 per gross
$560-570 per tonne the week prior. ton on Monday, up by 5.71% from $175 per ton previously.
Dock-yard buying prices on the East Coast have escalated in line with the
rising deep-sea market prices to Turkey, marking their third consecutive week
of increases since October 30.
US deep-sea ferrous cargo prices are now $18-19 per tonne higher on an 80:20
basis than they were at the beginning of November, with six cargo deals
notched up from the East Coast to the region over the course of the month to
date.
Dock prices in Philadelphia and New York have risen by $30 per gross ton
according to Fastmarkets’ assessments in the corresponding period, with
suggestions abounding that they will continue to rise amid a robust deep-sea
market.
Sources have remarked that strengthening export conditions are forging a

solid expectation that cut and shredded grades will trade hands at an
increase in December’s monthly ferrous scrap trade.
Fastmarkets assessed the steel scrap No1 heavy melt, export yard buying
price, delivered to yard Philadelphia and delivered to yard New York at $290
per gross ton each on Monday November 20, both up by 3.57% compared
with $280 per ton the week prior.
Meanwhile, the corresponding assessment for the steel scrap No1 heavy melt,
export yard buying price, delivered to yard Boston rose by 3.85% week on
week, to $270 per ton on Monday from $260 per ton previously.
Fastmarkets calculated the steel scrap HMS 1&2 (80:20), export index, fob
New York at $349.50 per tonne on Wednesday November 22, up by 2.72%
from $340.25 per tonne on November 15, based on the two US East Coast
cargo sales to Turkey reported between November 17 and 20.
China’s domestic rebar prices edge
Fastmarkets’ steel scrap shredded scrap, export index, fob New York was
calculated at $369.50 per tonne, up by 2.57% from $360.25 per tonne over down on weak demand
the period, on the same basis.
By Jessica Zong - Wednesday 22 November
O ers from suppliers on the US West Coast have risen due to a reported deal
to India in which shredded scrap and bonus-grade material traded at an China’s domestic rebar prices decreased slightly on Wednesday November
aggregate price of $427 per tonne CFR, Fastmarkets reported on November 22 amid persistently weak demand, sources said.
21.
Domestic
Fastmarkets’ daily price assessment for steel reinforcing bar (rebar) domestic,
Subsequent o ers to Bangladesh — where importers continue to grapple with
ex-whs Eastern China was 3,940-3,980 yuan ($554-559) per tonne on
di culty in opening letters of credit (LCs) on cargoes, despite IMF
Wednesday, widening downward by 10 yuan per tonne from 3,950-3,980 yuan
intervention — have nonetheless been heard at $420 per tonne CFR for heavy
per tonne on Tuesday.
melting scrap and $425 per tonne CFR for shredded material.
A deal on this basis would be $20 per tonne higher than the last recorded
End-user demand for rebar has been on a downward spiral in the recent
overall sale of heavy melt from the West Coast to India, reported at $400 per
week, which has put downward pressure on prices, sources said.
tonne CFR at the beginning of November, and sideways to the shredded
component of the cargo reported on November 21, at $425 per tonne CFR.
Additionally, buyers bid at lower prices on Wednesday following an early-hour
Shred has already risen $15 per tonne CFR compared with that prior sale in
decrease on the futures market. The most-traded January rebar futures
the latter cargo.
contract on the Shanghai Futures Exchange fell to an intra-day low of 3,955
yuan per tonne during afternoon trading, down by 62 yuan per tonne from
Sources indicated that they expect the current run of higher prices to
the intra-day high of 4,017 yuan per tonne.
continue on the West Coast, buoyed by higher prices to Turkey and
outstanding requirements from Asian buyers — particularly India — against a
Some sellers accepted the lower bids and sold some cargoes at 3,940 yuan
backdrop of prevailing material tightness in the US domestic market.
per tonne. But some others maintained prices at 3,950-3,980 yuan per tonne,
taking wait-and-see approaches, sources said.
Fastmarkets’ weekly steel scrap HMS 1&2 (80:20), export index, fob Los
Angeles held at $343 per tonne on Wednesday, stable for the third week after
The rebar futures market picked up in the last half hour of trading, and the
rising by 3% on November 8, on the basis of the latest reported sale of that
January rebar futures contract closed at 4,001 yuan per tonne, with a day-
grade from the West Coast to India.
on-day increase of 18 yuan per tonne.
Conversely, the steel scrap shredded scrap, export index, fob Los Angeles rose
The futures rise strengthened spot market participants' con dence on the
by 4.25% to $368 per tonne on Wednesday from $353 per tonne on
rebar prices, with many sellers refusing to give any discount in the last few
November 15, based on the shred and bonus sale reported to India on
trading hours of Wednesday, sources said.
November 21.
Fastmarkets’ weekly assessment of the steel scrap No1 heavy melt, export
Market Chatter Billet
“The strong iron ore futures market was the main reason behind the higher Fastmarkets' daily price assessment for steel billet domestic, exw Tangshan,
rebar futures contract's price in last half trading hour [on Wednesday]. Northern China was 3,710 yuan per tonne including value-added tax on
Optimism [over a nancing whitelist of property developers] from the day Wednesday, unchanged from Tuesday.
prior was also still felt,” a trader in Shanghai said.
Shanghai Futures Exchange

The most-traded January iron ore futures contract on the Dalian Commodity The most-traded January rebar futures contract closed at 4,001 yuan per
Exchange closed at 993.50 yuan per tonne on Wednesday, up by 15 yuan per tonne on Wednesday, up by 18 yuan per tonne from 3,983 yuan per tonne on
tonne from Tuesday. Tuesday.
Competition from imports has also vanished, according to the consumer.

Steel wire rod news
"We're not competing with the Mexicans right now. They've just disappeared.
US domestic wire rod prices slightly They are not o ering anything. They're not pushing anything. They've
lower amid regional discounts retracted," the consumer continued.
A southwestern buyer said the plunge in import prices resulted from a

By Robert England - Wednesday 22 November massive wave of imports that "overloaded the market in October and drove
down pricing."
Domestic prices for industrial quality low carbon wire rod in the US edged
slightly lower in November despite mill price hikes of $20 per short ton, A distributor reported that the price range for domestic wire rod had
with discounted prices reported from selected buyers in the Southeast narrowed in the past month and moved higher by $1 per cwt.
o setting higher prices heard from buyers in other regions.
Most market participants said they expect wire rod prices to move up in "Demand is not very high, but mills are raising prices to preserve their thin
December in line with anticipated higher scrap costs. margins and avoid having to lower their base price," the distributor said.
While lower demand might ordinarily pressure mills to lower prices, that is not
Even though import prices fell sharply in November, import buying activity likely to happen, the distributor said. "Yes, mills are hungry, but they've cut
evaporated with few or no o ers heard from traders, sources said. and cut and can't cut anymore."
Fastmarkets’ monthly assessment for steel wire rod (low carbon) industrial Buyers are resisting placing orders for December even though they expect
quality, fob mill US was $44-47 per hundredweight ($880-940 per short ton) prices to rise, the distributor said. "Folks are willing to play it close to the
on Tuesday November 21, narrowing downward by 1.09% from $43.50-48.50 vest."
per cwt on October 17 and falling by 3.19% from $44.50-49.50 per cwt on
September 19 and August 15. A second consumer was cautious about the mills’ ability to raise prices dollar-
for-dollar in line with any scrap price increases. "All the mills are hungry for
The monthly assessment for steel wire rod (low carbon) import, loaded truck orders, and all seem to have tonnage available in their schedules with very
Port of Houston for immediate delivery was $780-820 per short ton ($39-41 short lead times."
per cwt) on Tuesday, down by 10.11% from $850-930 per ton ($42.50-$46.50
per cwt) on October 17 and down by 12.09% from $870-950 per ton "Given the capacity available, I don’t expect much upward movement in the
previously, where the price had remained since June 20. This price is at its next few months. If scrap moves up, the mills will get some increases. But I
lowest level since December 2020, when it stood at $740-760 per short ton. don’t really expect scrap to increase too much in the next few months," the
second consumer said.
Market overview
Market participants reported good availability and short lead times for wire Alternate rod higher
rod, adding that mills are eager to sell tonnage. Prices for alternate rod rose in line with mill price hikes, sources said.
"Availability is perfect. You can get anything you want right now," said a The monthly assessment for steel wire rod (high carbon), fob mill US was $60
consumer. per cwt on Tuesday, up 1.69% from $59 per cwt on October 17 and September
19.
The consumer, however, noted they had little reason to place new orders.
And Fastmarkets assessed the steel wire rod cold-heading quality, ddp at
"We have no work. We're down to four days a week. From what I hear, the $63.50 per cwt on Tuesday, up 2.42% from $62 per cwt on October 17 and
slowdown is everywhere," the source said. September 19.
Reinforcing bar (rebar) prices

Steel reinforcing bar (rebar) domestic monthly, delivered Brazil,

MB-STE-0008 10 Nov 2023 3865 - 3960 0.00% Oct 2023 3865 - 3960
reais/tonne
Steel reinforcing bar (rebar) domestic, delivered Northern Europe,

MB-STE-0036 22 Nov 2023 615 - 630 0.81% Oct 2023 602.5 - 625
€/tonne
MB-STE-0037 Steel reinforcing bar (Rebar) domestic, exw Italy, €/tonne 22 Nov 2023 600 - 620 0.00% Oct 2023 580 - 618.75
Steel reinforcing bar (rebar) import, cfr main EU port Northern Europe,
MB-STE-0051 22 Nov 2023 580 - 615 0.00% Oct 2023 560 - 580
€/tonne
Steel reinforcing bar (rebar) import, cfr main EU port Southern Europe,
MB-STE-0052 22 Nov 2023 560 - 580 0.00% Oct 2023 560 - 580
€/tonne
Steel reinforcing bar (rebar) domestic, cpt Moscow, Russia,

MB-STE-0066 02 Oct 2023 64000 - 72000 0.00% Oct 2023 61500 - 65750
rubles/tonne incl. VAT
Steel reinforcing bar (rebar) export, fob main port Southern Europe,
MB-STE-0073 22 Nov 2023 570 - 590 3.57% Oct 2023 530 - 546.25
€/tonne
MB-STE-0092 Steel reinforcing bar (rebar) domestic, exw Poland, zloty/tonne 17 Nov 2023 2710 - 2780 0.18% Oct 2023 2733.75 - 2812.5
MB-STE-0112 Steel reinforcing bar (rebar) domestic, exw Egypt, E£/tonne 16 Nov 2023 35000 - 39900 4.03% Oct 2023 30500 - 34500
MB-STE-0119 Steel reinforcing bar (rebar) export, fob main port Turkey, $/tonne 16 Nov 2023 560 - 580 0.89% Oct 2023 556 - 562.5
MB-STE-0126 Steel reinforcing bar (rebar) domestic, exw UAE, dirhams/tonne 21 Nov 2023 2280 - 2505 2.57% Oct 2023 2238 - 2437
MB-STE-0127 Steel reinforcing bar (rebar) import, cfr Jebel Ali, UAE, $/tonne 21 Nov 2023 625 - 626 2.96% Oct 2023 612.8 - 624.2
MB-STE-0142 Steel reinforcing bar (rebar) import, cfr Singapore, $/tonne 20 Nov 2023 545 - 550 0.46% Oct 2023 535 - 540
Steel reinforcing bar (rebar) index export, fob China main port,
MB-STE-0147 21 Nov 2023 594.17 4.13% Oct 2023 550.57
$/tonne
Steel reinforcing bar (rebar) domestic, ex-whs Eastern China,

MB-STE-0152 22 Nov 2023 3940 - 3980 -0.13% Oct 2023 3654.12 - 3671.18
yuan/tonne
Steel reinforcing bar (rebar) domestic, ex-whs Northern China,

MB-STE-0162 17 Nov 2023 3890 - 3920 1.69% Oct 2023 3666.67 - 3690
yuan/tonne
MB-STE-0170 Steel reinforcing bar (rebar), fob mill US, $/cwt 22 Nov 2023 41.5 0.00% Oct 2023 41.63
Steel reinforcing bar (rebar), import, loaded truck Port of Houston for
MB-STE-0171 22 Nov 2023 740 - 770 -1.31% Oct 2023 762.5 - 792.5
immediate delivery, $/short ton
MB-STE-0438 Steel rebar domestic, exw India, rupees/tonne 17 Nov 2023 44500 - 44700 0.45% Oct 2023 45575 - 45825
MB-STE-0784 Steel reinforcing bar (rebar) domestic, exw Turkey, lira/tonne 16 Nov 2023 19800 - 20500 2.15% Oct 2023 18600 - 19312.5
MB-STE-0897 Steel reinforcing bar (Rebar) domestic, delivered Spain, €/tonne 22 Nov 2023 590 - 615 0.00% Oct 2023 590 - 615
Wire rod prices

MB-STE-0017 Steel wire rod (mesh quality) export, fob Black Sea, CIS, $/tonne 20 Nov 2023 525 - 550 0.94% Oct 2023 530.6 - 539.2
Steel wire rod (mesh quality) domestic, delivered Northern Europe,

MB-STE-0042 22 Nov 2023 620 - 635 3.72% Oct 2023 596.25 - 603.75
€/tonne
Steel wire rod (mesh quality) domestic, delivered Southern Europe,

MB-STE-0043 22 Nov 2023 600 - 620 5.17% Oct 2023 570 - 587.5
€/tonne
Steel wire rod (mesh quality) import, main port Northern Europe,
MB-STE-0053 22 Nov 2023 560 - 585 0.00% Oct 2023 560 - 585
€/tonne
Steel wire rod (mesh quality) import, main port Southern Europe,
MB-STE-0054 22 Nov 2023 560 - 585 0.00% Oct 2023 560 - 585
€/tonne
MB-STE-0074 Steel wire rod export, fob main port Southern Europe, €/tonne 22 Nov 2023 570 - 590 1.75% Oct 2023 530 - 553.75
MB-STE-0120 Steel wire rod (mesh quality) export, fob main port Turkey, $/tonne 16 Nov 2023 590 - 610 0.84% Oct 2023 595 - 605
Steel wire rod (mesh quality) export, fob main port Latin America,
MB-STE-0130 03 Nov 2023 590 - 610 0.00% Oct 2023 590 - 610
$/tonne
MB-STE-0143 Steel wire rod (low carbon) import, cfr Southeast Asia, $/tonne 20 Nov 2023 535 - 545 0.00% Oct 2023 516 - 540
MB-STE-0148 Steel wire rod (mesh quality) export, fob China main port, $/tonne 21 Nov 2023 574 - 580 1.67% Oct 2023 541.25 - 552.5
Steel wire rod (mesh quality) domestic, ex-whs Eastern China,

MB-STE-0164 17 Nov 2023 4060 - 4100 0.62% Oct 2023 3783.33 - 3813.33
yuan/tonne
MB-STE-0192 Steel wire rod (low carbon) industrial quality, fob mill US, $/cwt 21 Nov 2023 44 - 47 -1.09% Oct 2023 43.5 - 48.5
MB-STE-0193 Steel wire rod (high carbon), fob mill US, $/cwt 21 Nov 2023 60 1.69% Oct 2023 59
MB-STE-0194 Steel wire rod cold-heading quality, ddp, $/cwt 21 Nov 2023 63.5 2.42% Oct 2023 62
Steel wire rod (low carbon) import, loaded truck Port of Houston for
MB-STE-0195 21 Nov 2023 780 - 820 -10.11% Oct 2023 850 - 930
MB-STE-0785 Steel wire rod (mesh quality) domestic, exw Turkey, lira/tonne 16 Nov 2023 21000 - 21500 0.24% Oct 2023 19450 - 20075
Steel wire rod (drawing quality), domestic, delivered Poland,

MB-STE-0891 17 Nov 2023 2850 - 2900 0.00% Oct 2023 2800 - 2900
zloty/tonne
Steel slab news

Market participants estimated workable prices for billet exports at around
Iranian billet market quiet ahead of $465-470 per tonne FOB southern Iranian ports.
latest steel billet tender results This left Fastmarkets’ weekly price assessment for steel billet, export, fob
ports Iran, unchanged at $465-470 per tonne on November 22.
By Vlada Novokreshchenova - Wednesday 22 November
The most recent deal for steel billet from Iran was done at $468 per tonne
Iran's steel billet export market remained quiet in the week to Wednesday, FOB last week.
November 22, with market participants awaiting the outcome of the
latest tenders from the country's steelmakers.
One steel producer oated a tender for 20,000 tonnes of billet last week,
while another was o ering 30,000 tonnes. Both cargoes are scheduled for
shipment in December and the outcome of the tenders should be known this
week, sources said, unless they are prolonged.
Steel beams, sections & bar prices

MB-FE-0001 Steel merchant bar export, fob main port Turkey, $/tonne 16 Nov 2023 600 - 620 0.83% Oct 2023 603.75 - 617.5
Steel hollow sections ASTM A500 Grade B domestic, fob mill US, $/short
MB-STE-0020 22 Nov 2023 1400 - 1480 0.00% Oct 2023 1155 - 1205
ton
MB-STE-0024 Steel beams domestic, delivered Northern Europe, €/tonne 22 Nov 2023 730 - 750 0.00% Oct 2023 722.5 - 772.5
MB-STE-0025 Steel beams domestic, delivered Southern Europe, €/tonne 22 Nov 2023 730 - 750 0.00% Oct 2023 722.5 - 772.5
MB-STE-0038 Steel sections (medium) domestic, delivered Northern Europe, €/tonne 22 Nov 2023 750 - 800 0.00% Oct 2023 730 - 820
MB-STE-0039 Steel sections (medium) domestic, delivered Southern Europe, €/tonne 22 Nov 2023 750 - 800 0.00% Oct 2023 730 - 820
MB-STE-0161 Steel sections domestic, ex-whs Eastern China, yuan/tonne 17 Nov 2023 3830 - 3850 2.13% Oct 2023 3703.33 - 3736.67
MB-STE-0199 Steel bar 2 x 2 x 1/4-inch angle merchant products, fob mill US, $/cwt 27 Oct 2023 55.8 0.00% Oct 2023 55.8
MB-STE-0200 Steel bar 3 x 3 x 1/4-inch angle merchant products, fob mill US, $/cwt 27 Oct 2023 56.25 0.00% Oct 2023 56.25
MB-STE-0201 Steel bar 8 x 11.5-inch channels merchant products, fob mill US, $/cwt 27 Oct 2023 55.5 0.00% Oct 2023 55.5
MB-STE-0202 Steel bar 1/2 x 4-inch at merchant products, fob mill US, $/cwt 27 Oct 2023 56 0.00% Oct 2023 56
Steel merchant bar, loaded truck Port of Houston for immediate

MB-STE-0203 27 Oct 2023 930 - 1010 0.00% Oct 2023 930 - 1010
delivery, $/short ton
MB-STE-0204 Steel bar cold- nished 1-inch round 4140 (alloy), fob mill US, $/cwt 17 Nov 2023 107.75 0.70% Oct 2023 107
MB-STE-0205 Steel bar cold- nished 1-inch round 1018 (carbon), fob mill US, $/cwt 17 Nov 2023 75.5 0.67% Oct 2023 75
MB-STE-0206 Steel bar cold- nished 1-inch round 12L14 (carbon), fob mill US, $/cwt 17 Nov 2023 96.5 0.52% Oct 2023 96
Steel bar hot-rolled special bar quality (SBQ) 1-inch round 4100 series
MB-STE-0207 17 Nov 2023 72 1.05% Oct 2023 71.25
(alloy), fob mill US, $/cwt
Steel bar hot-rolled special bar quality (SBQ) 1-inch round 1000 series
MB-STE-0208 17 Nov 2023 59.5 0.85% Oct 2023 59
(carbon), fob mill US, $/cwt
MB-STE-0209 Steel beams 8 x 8-inch, fob mill US, $/cwt 26 Oct 2023 64.75 0.00% Oct 2023 64.75
Steel beams medium sections, loaded truck Port of Houston for

MB-STE-0210 26 Oct 2023 1080 - 1200 -1.30% Oct 2023 1080 - 1200
Steel hollow sections ASTM 500 Grade B import, ddp US port of entry,
MB-STE-0851 24 Oct 2023 1150 - 1180 -0.85% Oct 2023 1150 - 1180
$/short ton
Steel slab prices

MB-STE-0781 Steel slab export, fob ports Iran, $/tonne 22 Nov 2023 468 - 473 0.00% Oct 2023 473
MB-STE-0566 Steel slab export, fob main port Brazil, $/tonne 17 Nov 2023 630 - 640 17.05% Oct 2023 516.25 - 535
MB-STE-0140 Steel slab import, cfr Southeast Asia/East Asia, $/tonne 20 Nov 2023 535 - 545 0.47% Oct 2023 524 - 533
MB-STE-0016 Steel slab export, fob Black Sea, CIS, $/tonne 20 Nov 2023 455 - 500 3.24% Oct 2023 438.6 - 497
Steel billet prices

MB-STE-0782 Steel billet export, fob ports Iran, $/tonne 22 Nov 2023 465 - 470 0.00% Oct 2023 475 - 476.5
MB-STE-0558 Steel billet index export, fob Black Sea, CIS, $/tonne 22 Nov 2023 494 0.00% Oct 2023 477.05
MB-STE-0516 Steel billet import, cfr main port Egypt, $/tonne 16 Nov 2023 500 - 540 -1.42% Oct 2023 511.25 - 530
MB-STE-0433 Steel billet domestic, exw India, rupees/tonne 17 Nov 2023 41300 - 41500 0.24% Oct 2023 42200 - 42400
MB-STE-0440 Steel billet export, fob main port India, $/tonne 17 Nov 2023 470 - 520 0.00% Oct 2023 477.5 - 552.5
MB-STE-0141 Steel billet import, cfr Manila, $/tonne 22 Nov 2023 525 - 530 0.00% Oct 2023 510.68 - 515.91
MB-STE-0157 Steel billet domestic, exw Tangshan, Northern China, yuan/tonne 22 Nov 2023 3710 0.00% Oct 2023 3434.12
MB-STE-0890 Steel billet, import, cfr China, $/tonne 10 Nov 2023 450 - 455 7.10% Oct 2023 415 - 420
MB-STE-0116 Steel billet import, cfr main port Turkey, $/tonne 16 Nov 2023 515 - 535 3.96% Oct 2023 496.25 - 512.5
MB-STE-0117 Steel billet export, fob main port Turkey, $/tonne 16 Nov 2023 545 - 555 3.29% Oct 2023 532.5 - 538.75
MB-STE-0115 Steel billet domestic, exw Turkey, $/tonne 16 Nov 2023 540 - 553 3.11% Oct 2023 526.75 - 535
MB-STE-0128 Steel billet export, fob main port Latin America, $/tonne 03 Nov 2023 500 - 510 0.00% Oct 2023 500 - 510
MB-STE-0122 Steel billet import, cfr Jebel Ali, UAE, $/tonne 21 Nov 2023 500 - 510 2.02% Oct 2023 490 - 500
Steel tube & pipe prices

MB-STE-0022 Steel ERW standard pipe A53 Grade A, fob mill US, $/short ton 24 Oct 2023 1380 - 1440 -0.35% Oct 2023 1380 - 1440
MB-STE-0023 Steel ERW standard pipe A53 Grade B, fob mill US, $/short ton 24 Oct 2023 1480 - 1530 -0.66% Oct 2023 1480 - 1530
MB-STE-0056 Steel ERW standard pipe A53 Grade A import, cif Houston, $/short ton 24 Oct 2023 1080 - 1130 -0.90% Oct 2023 1080 - 1130
MB-STE-0057 Steel ERW standard pipe A53 Grade B import, cif Houston, $/short ton 24 Oct 2023 1255 - 1305 -0.78% Oct 2023 1255 - 1305
MB-STE-0059 Steel seamless line pipe - API 5LB import, cif Houston, $/short ton 14 Nov 2023 2100 - 2150 0.00% Oct 2023 2100 - 2150
Steel seamless OCTG API 5CT - Casing P110, import, cif Houston, $/short
MB-STE-0062 14 Nov 2023 1900 - 1950 -13.48% Oct 2023 2200 - 2250
ton
MB-STE-0063 Steel OCTG API 5CT - Casing J55, fob mill US, $/short ton 14 Nov 2023 1475 - 1525 0.00% Oct 2023 1475 - 1525
MB-STE-0071 Steel seamless OCTG API 5CT - Casing P110, fob mill US, $/short ton 14 Nov 2023 2500 - 2550 -13.68% Oct 2023 2900 - 2950
MB-STE-0090 Steel welded mechanical tubing ASTM A513, fob mill US, $/short ton 24 Oct 2023 1250 - 1300 0.79% Oct 2023 1250 - 1300
Steel structural pipe export S235JR grade EN10219 2mm wall thickness,
MB-STE-0166 08 Nov 2023 650 - 670 -7.69% Oct 2023 710 - 720
fob main port Turkey, $/tonne
MB-STE-0545 Steel ERW line pipe (X52), fob mill US, $/short ton 14 Nov 2023 1460 - 1510 0.68% Oct 2023 1450 - 1500
MB-STE-0564 Steel welded OCTG API 5CT - Casing P110, fob mill US, $/short ton 14 Nov 2023 2300 - 2350 -6.06% Oct 2023 2450 - 2500
Steel welded OCTG API 5CT - Casing P110, import, cif Houston, $/short
MB-STE-0565 14 Nov 2023 1450 - 1500 -16.90% Oct 2023 1750 - 1800
ton
Steel OCTG API 5CT - Casing J55 import South Korean-made, cif
MB-STE-0869 14 Nov 2023 1375 - 1425 0.00% Oct 2023 1375 - 1425
Houston, $/short ton
Steel OCTG API 5CT - Casing J55 import non-South Korean-made, cif
MB-STE-0870 14 Nov 2023 1325 - 1375 0.00% Oct 2023 1325 - 1375
Houston, $/short ton
Steel ERW line pipe (X52) import South Korean-made, cif Houston,
MB-STE-0871 14 Nov 2023 1225 - 1275 -1.96% Oct 2023 1250 - 1300
$/short ton
Steel ERW line pipe (X52) import non-South Korean-made, cif Houston,
MB-STE-0872 14 Nov 2023 1325 - 1375 0.00% Oct 2023 1325 - 1375
$/short ton
Fastmarkets’ assessment of the stainless steel scrap 304 turnings, broker

Stainless steel news
buying price, delivered to processor US narrowed upward by a penny to 45-51
cents per lb on Tuesday from 44-51 cents per lb the week before.
400-series stainless steel scrap prices
improve slightly; 300-series unchanged The weekly assessment of the stainless steel scrap 430 bundles, solids, broker
buying price, delivered to processor US widened upward to 18-24 cents per lb
on Tuesday from 18-23 cents per lb the week before.
By James Lawrence - Wednesday 22 November
The assessment of the stainless steel scrap 430 turnings, broker buying price,
The Thanksgiving holiday in the United States has given stainless steel delivered to processor US gained a penny on the high side, but lost a penny
scrap producers a break at a time where productivity is down, adding to on the low side widening to 12-19 cents per lb on Tuesday from 13-18 cents per
the already limited demand, which kept prices for 300-series stainless lb the week before.
sideways unchanged on Tuesday November 21, while 400-series stainless
steel scrap prices improved slightly. Fastmarkets’ weekly assessment of the stainless steel scrap 409 bundles,
“I will tell you, our inbounds have now dropped below historic low levels,” one solids, broker buying price, delivered to processor US lost 2 cents on the low
dealer said. side, but gained a penny on the high side side to 14-20 cents per lb on
November 21 from 16-19 cents per lb previously.
"It is ugly out there and I am not sure where the change comes from,” the Fastmarkets’ assessment of the stainless steel scrap 409 turnings, broker
dealer added. buying price, delivered to processor US widened downward by 2 cents to 9-14
cents per lb on Tuesday from 11-14 cents per lb previously.
One major processor said: “Short week, not much happening.”
Fastmarkets’ assessment of the stainless steel scrap 17-P4H solids, broker
It has been a very quiet week, with many participants taking time o while buying price, delivered to processor US lost 5 cents on the low end, but gained
the market is slow and is expected to be slow for buying and selling for the a penny on the high end widening to 15-26 cents per lb on Tuesday from 20-
remainder of the year. 25 cents per lb on November 14.
Fastmarkets’ weekly assessment of the stainless steel scrap 316 solids, clips, Fastmarkets’ assessment of the dealer 316 stainless solids buying price
broker buying price, delivered to processor US widened downward by 2 cents remained rm at 60-75 cents per lb on November 21.
to 93-100 cents per lb on November 21 from 95-100 cents per lb on November
14. Fastmarkets’ assessment of the stainless steel scrap 304 new clips, dealer
buying price, delivered to yard US and stainless steel scrap 304 solids, clips,
The assessment of the broker buying price for stainless steel scrap 304 solids, dealer buying price, delivered to yard US both remained rm at 30-35 cents
clips, delivered to processor US narrowed upward to 53-56 cents from 51-56 per lb on Tuesday
cents per lb in the same comparison.
Fastmarkets’ assessment of the dealer 304 stainless turnings buying price
remained at 20-30 cents per lb delivered on November 21.
The London Metal Exchange nickel cash contract continued to fall over the
Fastmarkets’ assessment of the dealer 400 stainless buying price widened past week, closing the o cial session on Tuesday at $16,560 per tonne ($7.51
downward by a penny to 8-12 cents per lb on Tuesday from 9-12 cents per lb), down by 2.7% from $17,005 per tonne ($7.713 per lb) one week earlier.
previously. The contract continued to fall on to $16,430 per tonne on Wednesday
November 22.
Export prices for 304 stainless solids improved slightly to 56 cents per lb on
Tuesday from 54.5 cents per lb FAS in 20-ft containers and 316 stainless clips LME nickel stocks jumped by 1,080 tonnes over the past week, rising to 44,592
and solids were reported at $1.05 per lb FAS in 20-ft containers from $1.07 per tonnes at the close on Tuesday from 43,512 tonnes at the close on November
lb in the same comparison. 15.
Stainless & special steel prices

Stainless steel cold-rolled sheet 2mm grade 304 transaction domestic,

MB-STS-0281 03 Nov 2023 2600 - 2680 1.54% Oct 2023 2550 - 2650
delivered North Europe, €/tonne
MB-STS-0035 Stainless steel 304 cold-rolled sheet, fob mill US, $/cwt 10 Nov 2023 177.5 -3.79% Oct 2023 184.5
MB-STS-0034 Stainless steel 304L cold-rolled sheet, fob mill US, $/cwt 10 Nov 2023 181.5 -3.71% Oct 2023 188.5
MB-STS-0037 Stainless steel 316L cold-rolled sheet, fob mill US, $/cwt 10 Nov 2023 261.5 -6.10% Oct 2023 278.5
Stainless steel bright bar grade 304 base price domestic, delivered
MB-STS-0005 03 Nov 2023 800 - 850 0.00% Oct 2023 800 - 850
Europe, €/tonne
Stainless steel bright bar grade 304 alloy surcharge domestic, Europe,
MB-STS-0004 03 Nov 2023 2952 - 3099 -3.72% Oct 2023 3067 - 3218
€/tonne
Stainless steel cold-rolled coil 2mm grade 304 export, fob China,
MB-STS-0282 22 Nov 2023 2030 - 2120 -1.43% Oct 2023 2133.33 - 2223.33
$/tonne
Stainless steel cold-rolled coil, Asia grade 304 (2mm 2B), cif East
MB-STS-0018 22 Nov 2023 1950 - 1980 -0.25% Oct 2023 1980 - 2030
Asian port, $/tonne
Stainless steel cold-rolled coil 2mm grade 304 domestic, ex-whs

MB-STS-0015 22 Nov 2023 13500 - 13600 -5.57% Oct 2023 14750 - 14833.33
China, yuan/tonne
Stainless steel cold-rolled coil 2mm grade 430 domestic, ex-whs

MB-STS-0016 22 Nov 2023 8100 -2.41% Oct 2023 8300
China, yuan/tonne
MB-STS-0283 Stainless steel hot-rolled coil grade 304 export, fob China, $/tonne 22 Nov 2023 1930 - 2020 -3.19% Oct 2023 2070 - 2140
Stainless steel hot-rolled coil Asia grade 304, cif port East Asia,
MB-STS-0280 22 Nov 2023 1850 - 1890 -0.53% Oct 2023 1943.33 - 1966.67
$/tonne
Stainless steel cold-rolled sheet 316 2mm alloy surcharge domestic,

MB-STS-0001 03 Nov 2023 3581 - 3614 -4.44% Oct 2023 3753 - 3776
Europe, €/tonne
Stainless steel cold-rolled sheet base price 316 2mm domestic,

MB-STS-0002 03 Nov 2023 1200 - 1250 0.00% Oct 2023 1200 - 1250
delivered Europe, €/tonne
Stainless steel cold-rolled sheet 2mm grade 304 alloy surcharge

MB-STS-0006 03 Nov 2023 2135 - 2152 -2.68% Oct 2023 2193 - 2212
domestic, Europe, €/tonne
Stainless steel cold-rolled sheet 2mm grade 304 base price domestic,
MB-STS-0007 03 Nov 2023 1000 - 1050 0.00% Oct 2023 1000 - 1050
delivered Northern Europe, €/tonne

Fastmarkets Steel Prices & News Daily 2023-11-23

Uploaded by

Copyright:

Available Formats

Fastmarkets Steel Prices & News Daily 2023-11-23

Uploaded by

Document Information

Original Title

Copyright

Available Formats

Share this document

Share or Embed Document

Sharing Options

Did you find this document useful?

Is this content inappropriate?

Copyright:

Available Formats

Fastmarkets Steel Prices & News Daily 2023-11-23

Uploaded by

Copyright:

Available Formats

Daily Market Newsletter

Thursday 23 November 2023

Steel prices & news

US Galvalume price soars by $140/t in Steel HRC restocking limited in Europe,

rising NEV production: MEIS

By Alesha Alka - Wednesday 22 November

Inputs were collected in a range of $55.00-62.50 per cwt, representing o ers

By Dan Hilliard - Wednesday 22 November

Hot-rolled steel prices

Steel hot-rolled sheet domestic, cpt Moscow, Russia, rubles/tonne

Steel hot-rolled coil (commodity) export, fob main port India,

Steel hot-rolled coil (Japan, Korea, Taiwan-origin), import, cfr

Cold-rolled steel prices

Steel cold-rolled sheet domestic, cpt Moscow, Russia, rubles/tonne incl.

Galvanized steel prices

Steel hot-dipped galvanized coil domestic, exw Southern Europe,

Steel hot-dipped galvanized coil domestic, ex-whs Eastern China,

Steel hot-dipped galvanized coil domestic, exw Northern Europe,

Steel hot-dipped galvanized coil domestic monthly, exw Brazil,

Steel hot-dipped galvanized coil 0.03-0.13 inch G90 (cold-rolled base),

Steel plate prices

Sources have remarked that strengthening export conditions are forging a

Shanghai Futures Exchange

Competition from imports has also vanished, according to the consumer.

A southwestern buyer said the plunge in import prices resulted from a

Reinforcing bar (rebar) prices

Steel reinforcing bar (rebar) domestic monthly, delivered Brazil,

Steel reinforcing bar (rebar) domestic, delivered Northern Europe,

Steel reinforcing bar (rebar) domestic, cpt Moscow, Russia,

Steel reinforcing bar (rebar) domestic, ex-whs Eastern China,

Steel reinforcing bar (rebar) domestic, ex-whs Northern China,

Wire rod prices

Steel wire rod (mesh quality) domestic, delivered Northern Europe,

Steel wire rod (mesh quality) domestic, delivered Southern Europe,

Steel wire rod (mesh quality) domestic, ex-whs Eastern China,

Steel wire rod (drawing quality), domestic, delivered Poland,

Steel slab news

Steel beams, sections & bar prices

Steel merchant bar, loaded truck Port of Houston for immediate

Steel beams medium sections, loaded truck Port of Houston for

Steel slab prices

Steel billet prices

Steel tube & pipe prices

Fastmarkets’ assessment of the stainless steel scrap 304 turnings, broker

Stainless & special steel prices

Stainless steel cold-rolled sheet 2mm grade 304 transaction domestic,

Stainless steel cold-rolled coil 2mm grade 304 domestic, ex-whs

Stainless steel cold-rolled coil 2mm grade 430 domestic, ex-whs

Stainless steel cold-rolled sheet 316 2mm alloy surcharge domestic,

Stainless steel cold-rolled sheet base price 316 2mm domestic,

Stainless steel cold-rolled sheet 2mm grade 304 alloy surcharge

You might also like

Pfad - The Proxy pFad of © 2024 Garber Painting. All rights reserved.