Global HR Coil Steel Prices Take a Nosedive, Landing at $558

In the latest assessment by World Steel Dynamics, the international market for hot-rolled steel coils (HRC) has experienced a significant downturn. As of March 25, the price sits at US$558 FOB per metric ton, signaling a notable drop of $47 or 7.8% compared to just two weeks prior on March 13, 2024. This latest figure marks the lowest point recorded since October of the previous year.

Over the course of the past three months, the price of HRC in the United States has been on a downward trajectory, slipping beneath the $900 mark. On the 27th, Cleveland-Cliffs, a leading steel manufacturer in the nation, made headlines by announcing a hike in HRC prices, pushing them up to approximately $990 per ton. Industry analysts are now keeping a keen eye on how this price adjustment might reshape market dynamics and potentially bring stability.

Breaking down the numbers across major regional markets as of March 25, HR coils ex-works were valued at $895 in the USA, marking a decrease of $43 or 4.6% from the previous $938 recorded on March 13. In China, the price stands at $445, a drop of $14 or 3.0% from the earlier figure of $463.

Meanwhile, in Western Europe, HR coils are priced at $730, showing a decline of $25 or 3.3% from the previous $755. When measured in euros, the price in Western Europe registers at EUR 674, down EUR 17 or 2.5% from EUR 691. Through its bi-weekly surveys, World Steel Dynamics diligently tracks benchmark prices of steel products across major global markets, providing invaluable insights into prevailing industry trends.”

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PPGI steel coils supplier in Vietnam

Ukraine’s galvanized zinc coated steel coils consumption recovered

Last year saw a significant surge in Ukrainian demand for galvanized steel sheet in coils steel, with consumption skyrocketing by 41% compared to the previous year, reaching 243,000 tonnes, according to Denys Yarko, the director of sales for metalworking at Metinvest SMC.

This notable increase was primarily fueled by heightened demand in the civil construction sector and among end consumers, alongside the stabilization of the electricity supply situation since the second quarter of the preceding year. Domestically produced galvanized steel accounted for about a third of the total consumption, amounting to 79,000 tonnes, indicating a robust domestic market.

Imported products held a significant share in the market, constituting two-thirds of the total consumption. Turkey emerged as the largest exporter, with its galvanized steel imports doubling compared to the previous year, totaling 116,800 tonnes. Additionally, significant volumes were imported from Poland (13,600 tonnes), Slovakia (12,700 tonnes), and Romania (8,700 tonnes), underlining the diverse sources of imports contributing to the Ukrainian market.

Looking ahead, Metinvest SMC anticipates further growth in galvanized steel consumption in Ukraine, projecting a 19% increase in the domestic market to reach 289,000 tonnes in 2024.

Despite fluctuations in production levels, Ukrainian steel coils manufacturers demonstrated resilience, with notable increases in output compared to the previous year. February witnessed a slight decrease in production compared to January, yet year-on-year figures revealed substantial growth.

Steel production surged by 52% in January-February, reaching 1.08 million tonnes, while pig iron production soared by 42.4% to 1.05 million tonnes. Rolled products output also experienced a significant uptick, rising by 52.9% to 900,200 tonnes during the same period. These figures underscore the robustness of the Ukrainian steel industry and its potential for continued growth in the coming years.

galvanized steel coils supplier from Vietnam GTS Steel

Turkish Tatcelik to start new galvanized steel coils production line in June 2024

Turkey’s galvanized steel coils and wire producer BMS Birlesik Metal said in a regulatory filing Feb. 26 that it has started exporting galvanized and zinc-al coated steel wires to Europe.

The wire shipments for the European agricultural sector are expected to be around 300 mt/month and expected to affect the company’s turnover and profitability positively, the company said.

BMS also received two galvanized steel wire orders from the UK in the last two weeks worth a total of $707,000, it said without citing the tonnage.

According to the company’s regulatory filing seen by S&P Global Commodity Insights, the production for the UK orders will begin as of March and the shipments are scheduled to be completed within April.

“To meet the rise seen in galvanized steel wire orders, and to raise our market share both in the domestic and export markets, we signed an agreement at the beginning of February with Nuh Wire, based in Yalova, for the purchase of the company’s galvanized steel wire production line with a capacity of 36,000 mt/year,” BMS also said.

The company currently has 72,000 mt/year of galvanized, zinc-aluminum coated steel coils, stranded and black annealed steel wire production capacity.

prepainted steel coils manufacturer in Vietnam

Turkish mills’ long steel pricing remained under pressure from low demand, especially in export markets throughout 2023.

Although Turkish mills’ steel export volumes increased by 17% year on year in the first month of 2024, on higher demand especially from some EU countries, according to the Mediterranean Ferrous and Non Ferrous Metals Exporters’ Union data, demand has slowed down again in recent weeks.

Turkish rebar export prices continued to drop on Feb. 23 as demand remained slow, while scrap import prices to Turkey fell further.

Platts assessed Turkish exported rebar at $602.50/mt FOB Feb. 23, down $2.50/mt on the day, according to S&P Global data.

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