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Flat Steel Producers Expect Market Recovery Next Month

Flat Steel Producers Expect Market Recovery Next Month

In Q1 FY2024, Flat Steel industry saw HRC and CRC prices drop up to 3,700/ton. Q2 brought a price increase of Rs. 800-2,500/ton amid rising demand, but Q3 saw sellers reduce prices up to 3% (Rs. 400-1,500/ton) through November 2023.
OfBusiness Steel Dailies | 29th November 2023

OfBusiness Steel Dailies | 29th November 2023

Nationwide, domestic Semi-Finished Steel and secondary TMT prices experienced a decrease of approximately Rs. 200-600/ton yesterday. Conversely, Flat Steel prices have remained steady for the past few weeks.
OfBusiness Primary TMT Dailies | 29th November 2023

OfBusiness Primary TMT Dailies | 29th November 2023

Expect more price drops next month as the secondary market shrinks and price differences increase due to surplus inventories, sparking negotiations for essential materials.
OfBusiness Secondary TMT Dailies | 29th November 2023

OfBusiness Secondary TMT Dailies | 29th November 2023

Secondary TMT prices have fluctuated today. Raipur Pig Iron prices in Raipur dropped by Rs. 200/ton due to weak demand, while PDRI sponge iron and scrap prices fell, reflecting pessimistic demand.
OfBusiness MS Scrap Dailies | 29th November 2023

OfBusiness MS Scrap Dailies | 29th November 2023

The South Indian MS Scrap market remains stable. Domestic supply challenges persist due to fewer imports, impacting availability. South Asian ferrous Scrap market stability was noted, with Turkey anticipating limited deal activity despite January bookings. Anticipated minimal intraday movements amid tight supply and subdued demand.
OfBusiness Structure Dailies | 29th November 2023

OfBusiness Structure Dailies | 29th November 2023

While the secondary Structural Steel prices experienced a decrease of Rs. 200-500/ton further today, the primary structure segment has maintained its stability.
Ferrous Scrap Prices In India Witness Downtrend Amidst Steel Slump

Ferrous Scrap Prices In India Witness Downtrend Amidst Steel Slump

In November 2023, the Indian Ferrous Scrap market experienced a significant downturn, echoing the decline in Steel prices. Prices dropped by Rs 500-1,000/ton weekly, hitting a month-low, with a more substantial decline seen in Sponge Iron and Billets.
OfBusiness Flat Steel Dailies | 29th November 2023

OfBusiness Flat Steel Dailies | 29th November 2023

Demand for flat products remains strong, with manufacturers managing order backlogs. India's NMDC Steel expects 1 million metric tons of production despite challenges. Rising costs may lead to price hikes. Overall, a positive outlook.
EU urges US to make steel import quotas less rigid

EU urges US to make steel import quotas less rigid

The EU is urging the US to relax its quotas on imported EU steel, assuming they continue post-year-end, says European Commission Vice President Valdis Dombrovskis.
Anna Voloshenko: Turkey’s import flat steel market mostly dominated by China

Anna Voloshenko: Turkey’s import flat steel market mostly dominated by China

Turkey's flat steel market, majorly controlled by China, shows little recovery in October. Limited availability due to maintenance works hampers the recovery of Turkish crude steel output, as per SteelOrbis.