Ukraine’s February exports show a sequential decline.
Despite challenges from the Russian invasion and port blockades, Ukrainian semi-finished product exports decreased in February but doubled compared to last year, while pig iron and iron ore exports fluctuated, primarily directed to China.
Iron ore prices experience a significant drop due to supply pressures.
Seaborne iron ore prices plummeted amidst challenges in China’s steel market, with declines seen across Kallanish’s Fe indices, commodity exchanges witnessing decreases, and concerns mounting over weak demand, increased short-selling activity, and rising steel inventories at major Chinese ports.
The Spanish rebar market anticipates an increase in prices post-Easter
Spanish rebar prices are increasing post-Easter, following global market trends, with expectations of widespread price hikes in Spain, while the domestic construction sector shows mixed recovery signals and minor fluctuations in prices since late January.
Chinese Cisa steel mills reduced production in mid-March
Chinese Cisa steel mills reduced mid-March output due to weaker demand, with a 9.12% decrease in crude steel production, 6.56% decrease in pig iron output, and 8.05% lower finished steel output, leading to rising inventories and impacting steel prices negatively.
Hadeed maintains long steel prices unchanged for April shipments
Hadeed, Saudi Arabia’s leading steel mill, keeps April-delivery long steel prices steady; rebar prices unchanged, anticipating slow market due to upcoming Eid holidays and sluggish retail sales.
UAE rebar retail sales volumes increase
UAE rebar sales soar as prices hold steady; discounts offered, increased purchases expected before Eid holiday, with growing demand projected post-holiday for major projects starting in June.
Iron ore prices stagnate amid increased mill production.
Seaborne iron ore prices stabilize amid slight steel market recovery; scrap prices rise, billet prices drop; steel mills cautiously resume production, balancing short-term gains with long-term oversupply concerns; Fitch Ratings revises 2024 iron ore price forecast upwards to $105/tonne.
Waelzholz procures Tata’s ‘Zeremis’ hot-rolled steel strip
Waelzholz partners with Tata Steel Nederland to procure environmentally friendly hot-rolled steel strip, reducing carbon footprint by up to 30%, emphasizing partnerships to address Scope 3 emissions, offering flexible emission reduction options since late 2023.
Boosting China’s steel decarbonisation by 2027
China’s National Development and Reform Commission (NDRC) has unveiled a groundbreaking initiative aimed at enhancing domestic steel decarbonization
Japanese steel orders decline sharply in January.
In January 2024, Japan experienced a significant decline in ordinary steel orders compared to the previous month and the same period last year
