Daily Market Newsletter
Wednesday 22 November 2023
Steel prices & news
Source: dashboard.fastmarkets.com/m/ce24cc55-ee9d-4381-9784-bb 704fdd69
Top stories
CSN reports 26% jump in Q3 steel
output, highlights threat from imports
By Ana Enis - Tuesday 21 November
Brazilian steelmaker Companhia Siderúrgica Nacional (CSN) increased its
slab output by 26% in the third quarter of 2023 compared with the
preceding three months, because it has been recovering from production
issues at its unit in the city of Volta Redonda in the state of Rio de
Janeiro.
“We have made signi cant advances in [steel] slab production,” chief
nancial o cer Marcelo Cunha Ribeiro said on Tuesday November 14 during
an earnings call. “This translated into a 13.4% decrease in slab costs.”
CSN has been facing production issues at its Volta Redonda unit for much of
2023. As a result, the company has been increasing its purchases of slab from
third parties.
CSN produced 922,000 tonnes of slab in the September quarter, up by 25.9%
from the previous quarter, when production totaled 732,000 tonnes. But
output was down by 10.22% from the 1.03 million tonnes produced in the
third quarter of 2022.
Referring to the operational problems that have been a ecting CSN, the
company’s chief executive o cer, Benjamin Steinbruch, said that
performance would continue to improve in the next quarter.
“After all,” Steinbruch said, “with the [maintenance] work in all quarters of
this year, I believe we have nally returned to a situation of normality.”
In at steel products, the company was working with stable demand and
prices until the end of 2023.
Fastmarkets’ price assessment for steel hot-rolled coil, domestic, monthly,
exw Brazil, was 3,850-4,000 Reais ($789-819) per tonne on November 10. The
price was at from October 13, but had widened downward by 50 Reais per
tonne compared with 3,900-4,000 Reais per tonne on September 8.
Among the total steel sales, 747,000 tonnes went to the domestic market,
down year on year by 13% from 859,000 tonnes, but up by 1% compared with
this year’s second quarter, when 739,000 tonnes were sold.
Some 271,000 tonnes of CSN’s steel went to the foreign market. This volume
was down by 13% from the previous quarter and by 10% from 2022’s third
quarter.
Steel imports
Brazilian steel producers this year have been calling for an increase in steel
import duties, with foreign material taking a share of the market from them.
On this topic, Steinbruch said that steel imports were “occurring in an
exaggerated and disorganized way in Brazil.”
“We have to act with [the foreign market] the same way they act with us:
most countries have 25% taxation [on imports], and some even add quotas,”
he said.
According to Steinbruch, the government knows exactly what must be done,
and the entire sector would support the requested change.
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“We cannot allow low-quality products, outside of technical speci cations, to
be freely imported into Brazil, compromising security and completely
unbalancing our market,” he added.
CSN’s adjusted earnings before interest, taxes, depreciation and amortization
(Ebitda) for the third quarter of 2023 totaled 2.82 billion Reais ($677.6
million), an increase of 24% compared with the previous quarter’s 2.2 billion
Reais and up by 4% from 2.71 billion Reais a year earlier.
UAE steel billet, rebar prices increase
despite limited demand
By Serife Durmus - Tuesday 21 November
The prices for steel rebar and billet in the United Arab Emirates increased
during the week ending Tuesday November 21 despite the seasonally
limited demand toward the year-end, industry sources told Fastmarkets.
Buyers did not want to book large quantities in order to avoid having high
inventories at the year-end. Demand from end-users was not high, so buyers
wanted to wait, market sources said.
The country’s biggest producer, Emirates Steel Arkan, announced a price
increase of 74 dirhams ($20) per tonne for rebar with e ect from November
17, for orders to be produced in December.
The company’s domestic rebar price was now 2,597 dirhams ($707) per tonne
delivered Abu Dhabi, increasing from 2,523 dirhams per tonne cpt Abu Dhabi.
The price for Dubai was 2,605 dirhams per tonne delivered, up from 2,531
dirhams per tonne cpt Dubai.
The company gives a discount of about 75 dirhams per tonne to regular
customers, market sources in the UAE told Fastmarkets. The cost of delivery
within Abu Dhabi was around 15-17 dirhams per tonne, so the rebar price
from Emirates Steel Arkan would be about 2,505-2,507 per tonne ex-works,
market sources calculated.
Re-rollers in the UAE followed the price increase and were o ering the
product at 2,280-2,300 dirhams per tonne ex-works during the past seven
days, compared with the previous 2,230-2,250 dirhams per tonne delivered.
Fastmarkets’ weekly price assessment for steel reinforcing bar (rebar),
domestic, exw UAE, was 2,280-2,505 dirhams per tonne on November 21,
rising from 2,230-2,435 dirhams per tonne on November 14.
Billet imports
No new billet import prices were heard to the UAE during the past seven
days, but market participants estimated the workable price to be about
$500-510 per tonne CFR.
An exporter in Oman was heard selling billet at $485 per tonne FOB to North
African buyers. Oman is a new major source for billet imports into the UAE
and the cost of transport would be no lower than $15 per tonne, market
participants said.
As a result, Fastmarkets’ weekly price assessment for steel billet, import, cfr
Jebel Ali, UAE. was $500-510 per tonne on Tuesday, rising from $490-500 per
tonne on November 14.
© Fastmarkets 2023
 Steel prices & news Daily Market Newsletter
Rebar imports
No new billet import prices were hear to the UAE during the past seven days,
but buyers believed prices would be around $625-626 per tonne CFR.
Fastmarkets’ weekly price assessment for steel reinforcing bar (rebar),
import, cfr Jebel Ali, UAE, on a theoretical-weight basis, was $625-626 per
tonne on November 21, rising from $607-608 per tonne on November 14.
Steel exports from Mediterranean to
Wednesday 22 November 2023 2
Of this total, around 36% was sold to the EU and the US, and another 10%
was shipped to Turkey.
Next year’s export volume will be determined by the country’s need for
foreign currency as well as circumstances in the buying markets, according to
Saleh.
“Egypt’s quota status for sales of steel to the EU and the UK was changed
from ‘developing countries’ to ‘other countries,’ which left us competing with
more aggressively-priced origins such as Malaysia, Indonesia and India,” Saleh
said.

strengthen in 2024: MEIS Another obstacle may result from a safeguarding investigation started by
Turkey against wire rod imports, which have surged massively this year.
By Vlada Novokreshchenova - Tuesday 21 November
In the rst nine months of 2023, Turkey imported 623,000 tonnes of wire rod
Exports of steel products from the Mediterranean region were expected to compared with 298,000 tonnes in the same period of 2022.
gain momentum in 2024, supported by changes in monetary policy in
some countries, the need for foreign currency as well as the addition of Algeria
new capacities, according to discussion group members at Fastmarkets’ Algeria in the recent years has switched from being a net steel importer into
Middle East Iron & Steel Conference in Dubai on Monday November 20. an exporter.
Turkey
Turkey is the biggest producer of steel in the region, with 24.5 million tonnes
This year, the country’s steel export volumes have exceeded the 1 million
produced in the rst nine months of 2023. This was down by around 10% year
tonnes mark, mainly comprising billet and nished long steel.
on year, according to the World Steel Association.
As recently as 2020, the country’s export volume was around 54,000 tonnes,
according to information provided by one of the country’s key producers,
The lower production gures were the result of combination of factors
Algerian Qatari Steel (AQS).
including the earthquakes that hit the south and center of the country in
February 2023, loose monetary policy in the rst half of the year and high
Algeria’s steel export volumes were projected to grow next year, along with
production costs.
the development of new capacities.
“The earthquake resulted in steel output in the country [being reduced by]
Compatriot steelmaker Tosyali Algeria was currently working to commission
500,000 tonnes so the overall drop in production was not only due to that,”
new at steel rolling facilities in Oran and to start at steel production in
Emrah Ugursal, deputy manager for foreign trade at Turkey’s Bastug
summer 2024.
Metalurji, said.
This project will include a 4 million tonnes per year pellet plant, 2.5 million tpy
“Energy prices [for electricity and gas] were at their peak in the rst half of
direct-reduced iron (DRI) module and 2.5 million tpy meltshop and hot-rolling
the year so Turkish mills were not competitive [because] it was not feasible to
mill. The hot-rolling line capacity will be expanded later to 4 million tpy, and
produce much steel,” he added.
cold-rolling and galvanizing lines will be added.
This naturally led to lower export volumes. Rebar is a key export product
AQS is currently nishing a feasibility study for further capacity expansion,
among Turkish suppliers. In the rst nine months of 2023, exports totaled 2.7
and is planning to enter the at steel market too, by installing a 2 million tpy
million tonnes, compared with 4.4 million tonnes in the corresponding period
at steel rolling mill.
of 2022, according to the data from Turkish Statistical Institute (TUIK).
The country’s need for at steel has been estimated at 1.5 million tpy, which
“After [the country’s presidential] election in May 2023, from the summer
suggests that there could be massive export opportunities into Algeria.
[onward] the cost of production came down, so selling became feasible
again,” Ugursal said. “At the same time, after elections we saw a serious
Advantages
devaluation [in the Turkish lira, when the economy policy switched from loose
Speaking about the advantages anjoyed by producers in the Mediterranean
to rational] and this is continuing.”
region, panelists noted their favorable geographical position.
On May 1 this year, the currencies were trading at $1 to 19.46 Turkish lira,
while on November 21 the rate was $1 to 28.77 lira, according to exchange
Another factor was relatively cheap energy, particularly gas in Algeria and
rate website Oanda.com.
electricity in Egypt.
“Devaluation is likely to regenerate the export markets,” Ugursal added,
Relatively clean methods of steel production implying the use of scrap and
indicating expectations for an export recovery in 2024.
DRI were said to be one of the biggest bene ts, with the EU’s Carbon Border
Adjustment Mechanism (CBAM) gaining momentum.
Egypt
https://dashboard.fastmarkets.com/a/5154158/steel-industry-weighs-the-
In contrast to Turkey, steel exports from Egypt boomed in 2023, driven by
costs-as-cbam-transition-period-begins
lower internal demand as well as a shortage of foreign currency.
“Production [of steel products] from scrap results in [emissions of] 0.68
tonnes of CO2 per tonne of steel,” Saleh said. “The DRI route gives 1.37 tonnes
Exports of hot-rolled coil came to 1 million tonnes in the rst nine months of
of emissions. Meanwhile, [the traditional basic oxygen furnace] route gives
2023, up by 83% year on year, according to Ramy Saleh, chief business
2.33 tonnes of emission per 1 tonne of steel.”
development o cer of Elmarakby Steel.
E ect of geopolitical tensions
Meanwhile, exports of long steel products totaled 1.2 million tonnes, up by
There was also pressure on the steel industry from geopolitical tensions in the
283% in a year-on-year comparison.
Middle East.

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 Steel prices & news Daily Market Newsletter
“The Israeli and Palestinian markets represent around 40-45% of Turkey’s
exports,” Ugursal said. “This region is highly dependent on imports. But there
are logistics issues and congestion at ports that can last 10-15 days,
[because] manpower is a problem.”
Saleh added that Gaza is an important market for Egypt, not only in terms of
steel but many other products.
On top of that, instability in the region is a threat to the tourism business in
Egypt, which leads to bigger reductions in foreign currency in ows into the
country.
SHFE rally, stronger yuan push up
Chinese CRC, HDG export prices
By Zihuan Pan - Tuesday 21 November
Export prices for Chinese cold-rolled coil and hot-dipped galvanized steel
coil widened upward or moved higher in the week to Tuesday November
21, after steel futures prices extended their rally and the yuan
strengthened sharply against the US dollar.
Most traders said the sharply higher prices had kept overseas buyers on the
sidelines and muted trading for Chinese CRC and HDG exports over the past
week, while some said trading improved week on week likely because buyers
started to accept the increasing o ers ahead of the upcoming holiday
season.
“We refrained from issuing o ers [given the rapidly changing Chinese steel
futures prices and exchange rates],” a trader in eastern China said.
The Chinese currency strengthened to 7.1753 yuan against the US dollar on
Tuesday, marking the strongest level in seven weeks, according to foreign
exchange data service provider OANDA.
The Middle East remained the most active market for most exporters, while
some traders also concluded deals with buyers from South America over the
past week.
The most-traded contract for hot-rolled coil – the substrate for CRC and HDG
– on the Shanghai Futures Exchange (SHFE) hit a high not seen since August 2
at 4,075 yuan ($568) per tonne during night trading on Monday before
slipping to end at 4,017 yuan per tonne on Tuesday.
Lingering expectations that the Chinese government will introduce more
stimulus measures to shore up the economy, a weakened US dollar, and
temporary production restrictions in northern China contributed to the recent
rally in SHFE HRC prices, market participants said.
Cold-rolled coil
Fastmarkets’ weekly price assessment for steel CRC, export, fob China main
port was $640-660 per tonne on Tuesday, widening upward by $10 per tonne
from $640-650 per tonne a week earlier.
The latest assessment was $650 per tonne at the midpoint, which is the
highest since August 8.
Smaller, privately-owned mills in China raised their CRC export o ers to
around $655 per tonne FOB China for shipment in January to February on
Monday-Tuesday, up from around $640-645 per tonne FOB a week earlier.
Some traders concluded CRC deals for cargoes from these small mills at
around $640 per tonne FOB China late last week.
Larger, state-owned mills increased their CRC export o ers to $660-665 per
tonne FOB China for January shipment so far this week, narrowing upward
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Wednesday 22 November 2023 3
from $645-665 per tonne FOB a week earlier.
Traders indicated that they had concluded deals for cargoes from larger,
state-owned mills at $655-660 per tonne FOB China on Monday-Tuesday, up
from traded levels of $645-650 per tonne FOB a week earlier.
Fastmarkets’ weekly price assessment for steel CRC, domestic, ex-whs
Eastern China was 4,750-4,800 yuan per tonne on November 17, widening
upward by 10 yuan per tonne from 4,750-4,790 yuan per tonne a week
earlier.
Hot-dipped galvanized coil
Fastmarkets’ weekly price assessment for steel galvanized coil, 1mm, export,
fob main port China was $690-725 per tonne on Tuesday, up by $5-30 per
tonne from $685-695 per tonne a week earlier.
Fastmarkets’ assessment is for HDG with zero-spangle zinc coating of
120gsm. The latest assessment is $707.5 per tonne at the midpoint, which is
also the highest level since August 8.
Chinese mills o ered HDG at $675-720 per tonne FOB China for zero-spangle
Z80-coating materials, narrowing upward from $670-720 per tonne FOB a
week earlier.
Some mills’ o ers for zero-spangle Z140-coating HDG were $730-770 per
tonne FOB, up from $700-760 per tonne FOB a week earlier.
The latest o ers are equivalent to $690-765 per tonne FOB China for Z120-
coating cargoes, up from $685-745 per tonne FOB a week earlier, according
to market participants’ estimates.
Traders indicated that they concluded Z140-coating HDG deals at around
$730 per tonne FOB China on Monday-Tuesday, up from $700 per tonne FOB
a week earlier.
The latest traded level is equivalent to around $725 per tonne FOB for Z120-
coating materials, according to traders.
Fastmarkets’ weekly price assessment for steel hot-dipped galvanized coil,
domestic, ex-whs Eastern China, which considers 80gsm zinc-coated zero-
spangle HDG, was 5,100-5,150 yuan per tonne on November 17, widening
upward by 10 yuan per tonne from 5,100-5,140 yuan per tonne a week earlier.
Containerized scrap prices to Taiwan
pick up amid weak dollar, rising global
scrap values
By Tianran Zhao - Tuesday 21 November
Spot prices for steel scrap imported into Taiwan pushed up on Tuesday
November 21, with higher o ers for US containerized scrap re ecting the
upturn in global scrap values, while a weaker dollar made it easier for
Taiwanese buyers to raise their bids, sources told Fastmarkets.
The latest o ers for US-origin containerized HMS 1&2 (80:20) were heard at
$370-375 per tonne CFR Taiwan on Tuesday, with bids at $365 per tonne CFR.
And deals were concluded at $365-366 per tonne CFR Taiwan on Tuesday,
according to market participants.
Fastmarkets’ twice-weekly price assessment for containerized steel scrap,
HMS 1&2 (80:20 mix), US material import, cfr main port Taiwan was $365-
366 per tonne on Tuesday, narrowing up by $5 per tonne from $360-366 per
tonne on November 16.
“Taiwanese buyers remain cautious amid the ongoing global uptrend in scrap
prices. There is still lack of support from nished steel demand in Taiwan’s
© Fastmarkets 2023
 Steel prices & news Daily Market Newsletter
local market. Last week, major mills in Taiwan raised their rebar prices, but
only sold very limited volumes,” a mill source in Taiwan told Fastmarkets.
This week, one major electric-arc-furnace steelmaker in Taiwan decided to
keep its rebar price unchanged at NT$18,800 ($589) per tonne and its buying
price for domestic HMS 1&2 (80:20) scrap at NT$11,600 per tonne, according
to market participants.
Hot-rolled coil news
US Midwest HRC index rises; mills hold
rm on o ers
By Alesha Alka - Tuesday 21 November
Hot-rolled coil prices in the US Midwest climbed above $950 per ton on
Tuesday November 21, with mills reportedly keeping o ers at $1,000 per
ton.
Fastmarkets’ daily steel hot-rolled coil index, fob mill US Midwest was
calculated at $47.60 per hundredweight ($952 per short ton) on Tuesday, up
by 1.54% from $46.88 per cwt on Monday November 20 and higher by 2.87%
from $46.27 per cwt a week earlier, on November 14.
Inputs were collected in both the buyer and seller sub-indices in a range of
$45-50 per cwt, representing o ers and assessments. Inputs were carried over
in the seller sub-index to minimize day-to-day index volatility.
Heard in the market
Mills are maintaining HRC o ers at $1,000 per ton, fueling the current upward
trajectory, which could last through the rst quarter of 2024, sources said.
Buyers are currently not eager to participate in the spot market, and any
purchasing is likely to be driven by buyers hoping to get ahead of potential
price increases in the near future, sources said.
Lead times are reportedly as far out as January.
Quote of the day
“The market is supported by controlled mill output. Big buyers made their
buys before the run-up and are happy to sit tight. Those that need to buy
some [material in the spot market] are doing so, but by and large folks are
buying contractually,” a distributor said.
Flat steel import prices to the UAE,
Saudi Arabia keep increasing; China is
still leading source
By Serife Durmus - Tuesday 21 November
Import prices for most at steel products to the UAE and Saudi Arabia
increased during the week ended Tuesday November 21, and China was
still the leading source of imports into these countries, sources told
Fastmarkets.
Demand was moderate because buyers did not want to have high stocks at
the end of the year.
On the other hand, strong iron ore and scrap prices made buyers expect
higher prices for nished steel.
Fastmarkets' iron ore 62% Fe nes price index reached a record high for 2023
on Tuesday, in line with futures and swaps rises, but premiums for mid-grade
nes declined due to a negative portside import arbitrage in China.
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Wednesday 22 November 2023 4
For Japanese material, o ers of bulk H1:H2 (50:50) scrap were heard at $378-
380 per tonne CFR Taiwan in recent days, according to sources.
Key market participants indicated that $375 per tonne CFR would now be
required for Taiwanese mills to secure material.
Imported scrap prices into Turkey, a major global scrap buyer, have also been
increasing recently.
UAE
China sold hot-rolled coil at $605 per tonne CFR to the UAE, rising from the
deals heard last week at $590-600 per tonne CFR.
O ers for HRC from China were at $610 per tonne CFR as of November 21.
Japan o ered HRC at $620-625 per tonne CFR, rising from the o ers sent at
$600-610 per tonne CFR two weeks before.
Fastmarkets’ weekly price assessment for steel hot-rolled coil import, cfr Jebel
Ali, UAE was $605-620 per tonne on November 21, rising from $590-600 per
tonne on November 14.
No new hot-dipped galvanized coil import prices were heard to the UAE
during the past seven days, because of limited demand and su cient local
production.
Fastmarkets’ weekly price assessment for steel hot-dipped galvanized coil
import, cfr Jebel Ali, UAE was $770-810 per tonne on Tuesday, unchanged
week-on-week.
Cold-rolled coil was o ered from China to the UAE at $670-680 per tonne
CFR, rising from the previous o ers at $660-670 per tonne CFR, but no major
bookings were heard.
Fastmarkets’ weekly price assessment for steel cold-rolled coil import, cfr
Jebel Ali, UAE was $670-680 per tonne on November 21, rising from $660-670
per tonne on November 14.
Saudi Arabia
China o ered HRC of 1.2mm thickness at $650 per tonne CFR, rising from the
previous o ers at $635-640 per tonne CFR.
Buyers believed $640-650 per tonne CFR would be workable prices.
No major deals were heard.
As a result, Fastmarkets’ weekly price assessment for steel hot-rolled coil
import, cfr Saudi Arabia (1.2 mm thick) was $640-650 per tonne on
November 21, rising from $635-640 per tonne on November 14.
European HRC buyers cautious with
bookings, but mills remain bullish
By Julia Bolotova - Tuesday 21 November
European hot-rolled coil prices were largely at on Tuesday November 21,
with little activity seen in the spot market, but producers are maintaining
their o er prices and even considering rises for 2024, sources told
Fastmarkets.
The pace of restocking was quite slow in the spot market, with buyers seen
unwilling to commit to big tonnages.
© Fastmarkets 2023
 Steel prices & news Daily Market Newsletter
“Buyers are still unsure what will happen with prices, so they are very careful
about buying for stock,” a steel service center source in Northern Europe told
Fastmarkets.
Deals for German HRC with six- to eight-week delivery were done at €650-
660 ($710-721) per tonne ex-works, sources said, while o ers for similar
material from an integrated mill in Northern Europe were heard at €660-680
per tonne ex-works.
For rst-quarter production, some mills are looking to increase prices further,
sources said, with price indications heard at a minimum of €700 per tonne
ex-works.
“The current price rises are cost-driven, supported by a revival in apparent
steel demand amid lower supplies. But consumption is still weak, so any new
rises [would be] questionable,” a buyer source told Fastmarkets.
Producers negotiating long-term contracts with end users for the rst half of
2024 were said to be looking for €750 per tonne for HRC and €850 per tonne
for hot-dip galvanized (HDG) coil - in line with at steel contracts for the
second half of 2023.
“Mills are unwilling to drop prices in the spot market just two weeks after they
announced price rises, especially while they negotiate with the automotive
sector,” a trader source in German told Fastmarkets.
“We will see the outcome of negotiations closer to mid-December,” the
source added.
Several buyer sources told Fastmarkets that they planned to restock for
February delivery in mid-December because they expected to have a “more
clear market picture by that time.”
Wednesday 22 November 2023 5
US September ferrous scrap imports fall
to eight-month low on mill outages
By Geo Mattson - Tuesday 21 November
Imported scrap volumes in the United States fell in September due to
several mill maintenance and a potential United Autoworkers strike.
Eight melt shops announced downtime in September, with another eleven
slated for October and four in November. Of the eight, ve outages were
reported at hot-rolled coil mills for September, Fastmarkets previously
reported.
US imports of ferrous scrap totaled 239,566 tonnes in September, a decrease
from August and September 2022, marking the lowest gure since January
2023.
Additionally, the US market faced competition from higher prices in the deep-
sea market, with buyers in Turkey, India and Pakistan securing cargoes at
progressively higher prices post-monsoon season.
Imports of pig iron reached a seven-month low in September, while those for
direct-reduced iron (DRI) fell to a ve-month low in the same month. Both
materials are feedstock for EAF mills. Pig iron imports were down by 40.00%
from August, totaling 251,290 tonnes, while DRI imports decreased by 15.58%
to 102,331 tonnes.
Year-to-date imports of pig iron fell by 9.55% to 3.22 million tonnes, and DRI
imports dropped by 3.02% to 1.11 million tonnes.

Fastmarkets calculated its daily steel HRC index, domestic, exw Northern Fastmarkets’ price assessment for pig iron imports, cfr Gulf of Mexico, US,
Europe at €656.25 ($717.19) per tonne on Tuesday, up by €1.25 per tonne was $440-445 per tonne on September 29, slightly down from $445 per tonne
from €655.00 per tonne on Monday. a month earlier and lower than the $490-480 per tonne at the start of 2023.

The index was up by €3.25 per tonne week on week and by €43.12 per tonne
month on month.

In Southern Europe, Fastmarkets calculated its corresponding daily steel HRC

index, domestic, exw Italy at €635.00 per tonne on Tuesday, unchanged from
Monday.

But the index was up by €5.00 per tonne week on week and by €38.33 per
tonne month on month.

For January-February delivery, Italian mills plan to increase o ers by another

€40-50 per tonne, with price ideas voiced at €660-680 per tonne ex-works,
sources said.

In contrast, market participants told Fastmarkets that the tradable value was
about €630-640 per tonne ex-works on Tuesday.

Market activity in Italy was quite slow on Tuesday due to still-weak real steel
demand, sources said.

“Consumption is still weak, but prices [for HRC] in November still increased
due to restocking production cuts at mills. The question is whether the
uptrend will stick in Q1 [2024],” a steel service center source in Italy said.

Import o ers were also moving up, with January shipment Asia-origin coil on
o er to Italy at €620-640 per tonne CFR.

And Indian HRC was on o er in Italy at €640 per tonne CFR.

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 Wednesday 22 November 2023 6
Chinese HRC prices rise on lingering
stimulus hopes, production restrictions
By Zihuan Pan - Tuesday 21 November

Chinese hot-rolled coil prices edged higher on Tuesday November 21,

following gains in futures prices for the at steel product which were
bolstered by persistent stimulus expectations and temporary production
restrictions in northern China, sources told Fastmarkets.
Domestic
Fastmarkets’ price assessment for steel hot-rolled coil domestic, ex-whs
Eastern China (Shanghai) was 3,980-3,990 yuan ($558-560) per tonne on
Tuesday, up by 10 yuan per tonne from 3,970-3,980 yuan per tonne on
Monday.

The most-traded January HRC contract on the Shanghai Futures Exchange

hit a new high not seen since August 2 of 4,075 yuan per tonne during night
trading on Monday November 20, before falling during daytime trading on
Tuesday.

Lingering expectations for more stimulus measures from the Chinese

government, a weaker dollar on increased expectations for an end to interest
rate hikes in the United States, and temporary production restrictions at steel
mills to combat air pollution in part of northern China contributed to the
overnight rally in SHFE HRC prices, market participants said.

Major steelmaking hubs in northern China, namely Tangshan and Handan,

have initiated level 2 emergency responses to heavy air pollution since
Saturday November 18, which requires steel mills to scale back operations to
more environmentally-friendly levels, according to reports by local media
outlets.

Export
Fastmarkets calculated its steel hot-rolled coil index export, fob main port
China at $565 per tonne on Tuesday, up by $2.67 per tonne from $562.33 per
tonne on Monday.

A stronger yuan pushed export prices for Chinese HRC higher and led to
muted export trading on Tuesday, market participants said.

Traders and small, privately-owned mills were o ering 3mm SS400 HRC at
$550-576 per tonne FOB China on Tuesday, widening upward from $550-567
per tonne FOB on Monday.

Larger, state-owned mills, meanwhile, were o ering at $570-580 per tonne

FOB China for 3mm SS400-base on Tuesday, compared with $555-575 per
tonne FOB a week earlier.

Traders said that they continued to receive enquiries from overseas buyers,
but struggled to conclude deals for Chinese steel exports because the higher
o ers kept buyers on the sidelines.

Market participants indicated that overseas buyers are unlikely to accept

o ers of above $550 per tonne FOB China for 3mm SS400 HRC.

Export prices for steel products from Mainland China have increased sharply
and are losing their competitiveness among o ers from other origins such as
Taiwan, following the sharp rally in SHFE HRC prices and a strengthening of
the yuan, a trader in eastern China said.

The yuan strengthened to 7.1753 yuan against US dollar on Tuesday, marking

the strongest level in seven weeks, according to the foreign exchange data
service provider OANDA.

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Fastmarkets IM, and Metal Bulletin Holdings LLC doing business as Fastmarkets AMM, collectively referred to in the material as ‘Fastmarkets’.
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If you need additional access please contact hello@fastmarkets.com © Fastmarkets 2023
 Steel prices & news Daily Market Newsletter Wednesday 22 November 2023 7
Market chatter Shanghai Futures Exchange
“It’s hard to tell how the [dollar/yuan] exchange rates will fare. We expect The most-traded January HRC futures contract closed at 4,017 yuan per
the exchange rate to hit the key 7 yuan per dollar-mark in the short term. The tonne on Tuesday, down by 30 yuan per tonne from Monday’s close of 4,047
future market will depend on the economic recession situations [in the US],” yuan per tonne.
a second trader in eastern China said.

Hot-rolled steel prices

Symbol Description Date Price +/- Month Monthly Average

MB-STE-0028 Steel hot-rolled coil index domestic, exw Northern Europe, €/tonne 21 Nov 2023 656.25 0.19% Oct 2023 616.63

MB-STE-0046 Steel hot-rolled coil import, cfr main port Northern Europe, €/tonne 15 Nov 2023 610 - 620 0.82% Oct 2023 588.75 - 600

MB-STE-0047 Steel hot-rolled coil import, cfr main port Southern Europe, €/tonne 15 Nov 2023 610 - 620 1.65% Oct 2023 581.25 - 600

MB-STE-0532 Steel hot-rolled coil domestic, exw Central Europe, €/tonne 15 Nov 2023 635 - 650 2.39% Oct 2023 607.5 - 620

MB-STE-0892 Steel hot-rolled coil index domestic, exw Italy, €/tonne 21 Nov 2023 635 0.00% Oct 2023 600.08

MB-STE-0893 Steel hot-rolled coil domestic, exw Spain, €/tonne 15 Nov 2023 635 - 645 2.81% 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 21 Nov 2023 47.6 1.54% Oct 2023 37.21

MB-STE-0903 Steel hot-rolled coil index, fob mill US South, $/cwt 15 Nov 2023 46.67 4.97% Oct 2023 37.01

MB-STE-0180 Steel hot-rolled coil, import, ddp Houston, $/short ton 08 Nov 2023 760 - 820 16.18% 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 21 Nov 2023 565 0.47% Oct 2023 527.55

MB-STE-0154 Steel hot-rolled coil domestic, ex-whs Eastern China, yuan/tonne 21 Nov 2023 3980 - 3990 0.25% 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

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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 Wednesday 22 November 2023 8
Symbol Description Date Price +/- Month Monthly Average

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 15 Nov 2023 740 - 750 1.36% Oct 2023 705 - 718.75

MB-STE-0027 Steel cold-rolled coil domestic, exw Southern Europe, €/tonne 15 Nov 2023 730 - 735 2.45% Oct 2023 702.5 - 710

MB-STE-0044 Steel cold-rolled coil import, cfr main port Northern Europe, €/tonne 15 Nov 2023 685 - 710 1.09% Oct 2023 672.5 - 687.5

MB-STE-0045 Steel cold-rolled coil import, cfr main port Southern Europe, €/tonne 15 Nov 2023 685 - 710 1.09% 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 08 Nov 2023 900 - 940 9.52% Oct 2023 830 - 850

MB-STE-0185 Steel cold-rolled coil, fob mill US, $/cwt 16 Nov 2023 57.5 4.55% 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

another facility closure,” he said. “No one’s expecting a big increase in

Steel plate news
demand in the light gauge market."

US plate buyers debate Nucor The distributor said that the Brandenburg mill isn’t designed around specialty,
Tuscaloosa expansion strategy lighter gauges.

“That’s what they use their Hertford mill for,” he said. “So if they go through
By Alesha Alka , Melissa VanDervort - Tuesday 21 November with Tuscaloosa's upgrades, in theory they can make everything.”

Nucor's planned expansion of its thin-plate capabilities in Tuscaloosa
County, Alabama, could represent a future shu ing of capacity, market
sources told Fastmarkets this week.
Nucor announced a $280 million expansion project at its Tuscaloosa mill to
expand its thinner, high-quality plate range. The project will start by the end
of the year and will be fully operational by the summer of 2027, according to
the announcement.
Nucor’s Plate Mill Group currently has production facilities in Brandenburg,
Kentucky; Hertford County, North Carolina; and Tuscaloosa, Alabama. The
facilities have an annual capacity of 3 million tons of cut-to-length and
discrete plate, with operating centers in the US, Canada and Mexico.
A Nucor representative said that the Tuscaloosa expansion is a sign of the
company's continued dedication to the US plate market.
"We expect to have improved quality to our existing customer base and this is
another example of Nucor’s dedication to the plate market and our
customers," the representative told Fastmarkets.
Earlier this month, US cut-to-length plate prices reached an eight-month low
of $1,380 per short ton, marking a notable shift away from prior market
stability. This was due to moderate demand and decreasing imported and
resold plate prices, coupled with expanded production capacity at Nucor’s
Brandenburg plate mill. Although Nucor predicted higher production levels in
2024, its recent decision to reduce its prices by $140 per ton has brought more
downside risks to US plate prices.

In May, Nucor closed their plate mill in Longview, Texas. The mill’s 100,000 ton
annual production was transferred to Nucor’s remaining facilities, including
the new Brandenburg facility.
A distributor said that the expansion project could signal a future capacity
adjustment.
“[Nucor's] focus on lighter gauge makes me wonder if they are considering
Another distributor said that Nucor’s announcement is “an investment in
their future.”
“Once demand improves, they will be ready to ship material quickly, and from
brand-new, e cient and pro table mills,” he said, referencing the opening of
Nucor Brandenburg, which produced it rst plate products on December 30,
2022.

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 Wednesday 22 November 2023 9

Galvanized steel prices

Symbol Description Date Price +/- Month Monthly Average

MB-STE-0883 Steel hot-dipped galvanized coil (hot-rolled base), fob mill US, $/cwt 16 Nov 2023 53.5 4.90% 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 15 Nov 2023 740 - 750 2.05% 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 15 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 15 Nov 2023 780 - 795 -0.63% Oct 2023 786.25 - 796.25
€/tonne

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

MB-STE-0030 15 Nov 2023 750 - 780 2.68% 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 16 Nov 2023 57.5 4.55% 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 08 Nov 2023 1110 - 1200 -6.85% Oct 2023 1200 - 1280

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

MB-STE-0212 16 Nov 2023 65.5 3.97% 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

Symbol Description Date Price +/- Month Monthly Average

MB-STE-0034 Steel domestic plate 8-40mm, exw Northern Europe, €/tonne 15 Nov 2023 790 - 800 0.00% Oct 2023 770 - 797.5

MB-STE-0035 Steel domestic plate 8-40mm, exw Southern Europe, €/tonne 15 Nov 2023 710 - 730 1.41% Oct 2023 680 - 695

MB-STE-0049 Steel plate (8-40mm) import, cfr main port Northern Europe, €/tonne 15 Nov 2023 660 - 700 3.82% Oct 2023 665 - 670

MB-STE-0050 Steel plate (8-40mm) import, cfr main port Southern Europe, €/tonne 15 Nov 2023 650 - 700 3.05% 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

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 Wednesday 22 November 2023 10
Symbol Description Date Price +/- Month Monthly Average

MB-STE-0179 Steel medium plate, import, ddp Houston, $/short ton 08 Nov 2023 1210 - 1270 5.08% 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
ArcelorMittal Brasil registered 3.6 million tonnes of crude steel produced in the
third quarter, down by 1.7% from the previous quarter (3.73 million tonnes),
ArcelorMittal Brasil temporarily halts 3 but up by 23.5% from the third quarter of 2022 (2.9 million tonnes).
mills, cuts 2023 production outlook Steel shipments by ArcelorMittal in Brazil also totaled 3.6 million tonnes,
stable when compared with the second quarter, but 26.8% higher when
By Ana Enis - Tuesday 21 November compared with the 2.8 million tonnes in the third quarter last year.

Luxembourg-based steelmaker ArcelorMittal will extend its year-end
maintenance downtime at three of its long steel mills in Brazil, expecting
a drop in annual production amid growing steel imports in the country, it
said on Friday November 17.
According to a statement sent to Fastmarkets, the scheduled maintenance
stoppages at the Resende (Rio de Janeiro state), Piracicaba (São Paulo state)
and Juiz de Fora (Minas Gerais state) units, all in southeast Brazil, will be
extended during the months of November and December. Most maintenance
work lasts for a couple of weeks.
In addition to making mandatory improvements to machines and factories,
the company said in its statement that it decided to temporarily halt output
due to the record increase in steel imports in Brazil, which have been
discouraging sales in the domestic market and a ected production from local
steel mills.
Under that scenario, ArcelorMittal’s full-year 2023 outlook has its steel
production at the Brazilian branch falling by 1.3 million tonnes compared with
last year — to 11.4 million tonnes from 12.7 million tonnes.
Sales revenue from July to September decreased by 6.9% to $3.6 billion,
compared with $3.8 billion in the second quarter of 2023, “primarily due to a
6.9% drop in average steel selling prices,” the company said in its third-
quarter earnings release.
Turkish mills continue to buy deep-sea
ferrous scrap at rm prices despite lack
of steel demand
By Cem Turken - Tuesday 21 November
Turkish steelmakers have continued to book deep-sea scrap for January
shipment at rm prices despite limited steel sales, sources told
Fastmarkets on Tuesday November 21.
A steel mill in the Izmir region booked a European cargo comprising heavy
melting scrap (HMS) 1&2 (80:20) at $385 per tonne CFR and shredded at
$408 per tonne CFR.

“With the technical stoppage, around 400 Resende employees will go on

annual leave,” the company said. “This is part of the company’s e orts to And a steel mill in the Marmara region booked a Baltic Sea cargo consisting
adapt its production to the scenario of lower domestic steel demand and a of 20,000 tonnes of HMS 1&2 (80:20) at $387 per tonne and 4,000 tonnes of
record increase in imports.” bonus at $407 per tonne CFR.

All three mills are specialized in long steel production, mainly rebar, wire rod
and drawn steel, for use in civil construction and by industrial and agricultural
clients. ArcelorMittal is the largest long steel producer in Brazil.
Fastmarkets’ price assessment for steel reinforcing bar (rebar) domestic
monthly, delivered Brazil was 3,865-3,960 Reais ($791-811) per tonne on
November 10, unchanged from the previous assessment on October 13 but up
by 1.36% from 3,760-3,960 Reais per tonne on September 8, amid discounts
fading.
This contrasts with the previous cargo deal heard on Monday, when the
Marmara mill booked a US cargo of HMS 1&2 (90:10) at $393 per tonne CFR.
As a result of the latest transactions, the daily scrap indices inched upward
on Tuesday.
Fastmarkets’ daily index for steel scrap, HMS 1&2 (80:20 mix), North Europe
origin, cfr Turkey was calculated at $384.24 per tonne on Tuesday, up by $1.84
per tonne from a day earlier.

China, Russia and Turkey are the main origins of imported steel in Brazil. The The corresponding daily index for steel scrap, HMS 1&2 (80:20 mix), US origin,
country’s steelmaker association, Instituto Aço Brasil, expects imports to total cfr Turkey was calculated at $390.82 per tonne on Tuesday, also up by $1.84
4.20 million tonnes in 2023, accounting for 18.33% of the country's estimated per tonne day on day, leaving the premium for US scrap over European
apparent steel consumption of 22.91 million tonnes. material at $6.58 per tonne.

“Faced with unfair competition from imported steel, supplied at subsidized
prices by some countries, ArcelorMittal defends the temporary increase in the
tari rate for imports to 25%, until the situation normalizes in the domestic
market,” the company note read.
Aço Brasil and its steelmaker members are requesting a 25% duty to be
applied over foreign steel temporarily until rising imports diminish, in a similar
fashion to countries like Mexico and the US. On the other hand, several end-
users have expressed dissatisfaction over that demand
Turkish steelmakers have shifted to January scrap bookings after nishing
their purchases for December last week.
The prices of scrap have been on an uptrend in the past few weeks due to
limited availability of the material and the traditional increase in the scrap
collection costs in the winter period.
“The supply of scrap is still tight but a number of cargoes were sold. I think
the suppliers will struggle when the yards are empty due to higher collection

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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
costs,” a trading source said.
Steel mills in Turkey were trying to re ect the increasing scrap costs in their
steel o ers despite limited demand.
“Most Turkish mills have raised their rebar export o ers to $590 [per tonne]
and above... However, there is no demand from the export markets,” a
Turkish mill source said.
Fastmarkets’ weekly price assessment for steel reinforcing bar (rebar), export,
fob main port Turkey was $560-580 per tonne on November 16, widening
upward by $10 per tonne from $560-570 per tonne on November 9.
At the same time, the Hamas-Israel con ict has disrupted demand for Turkish
rebar from Israel, which had been one of the few buyers of the Turkey-origin
steel product in recent months. Although vessels are currently unloading at
Israeli ports safely, there is no demand for Turkish rebar from this destination,
sources said.
Turkey sold 598,739 tonnes of rebar to Israel in January-September 2023,
compared with the 793,773 tonnes exported in the same period of 2022,
according to the data released by the Turkish Statistical Institute (TÜIK).
Turkey’s rebar exports totaled 2.70 million tonnes in January-September 2023,
of which Israel accounted for 22% of that volume.
“It seems Turkish mills are actively restocking scrap at the moment despite
limited steel demand in the export and domestic markets. This may cause the
nished steel stocks to increase in the short term,” a second Turkish mill
source said.
China’s domestic rebar prices nd
support from property developer
whitelist
By Jessica Zong - Tuesday 21 November
China’s domestic rebar prices extended gains on Tuesday November 21
due to news spreading in the property and rebar markets regarding the
country's authorities plans to release a regulatory " nancing whitelist" of
property developers, sources told Fastmarkets.
Domestic
Fastmarkets’ daily price assessment for steel reinforcing bar (rebar) domestic,
ex-whs Eastern China was 3,950-3,980 yuan ($550-555) per tonne on
Tuesday, up by 30 yuan per tonne from 3,920-3,950 yuan per tonne on
Monday.
Steel wire rod news
Russian billet, wire rod prices push up
following rise in scrap prices, lower
availability
By Vlada Novokreshchenova - Tuesday 21 November
Export billet and wire rod prices from Russia continued to push up in the
week to Tuesday, November 21, in the wake of rising international scrap
prices and reduced mill allocations for overseas shipments.
Fastmarkets’ daily index for steel scrap, HMS 1&2 (80:20 mix), US origin, cfr
Turkey was calculated at $388.98 per tonne on Monday, November 20, up by
$5.98 per tonne day on day from $383.00 per tonne.
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
Wednesday 22 November 2023 11
Roughly 50 property developers would be in a whitelist for nancing.
Regulatory authorities have reportedly requested banks neither delay lending
money to these developers, nor withdraw or cut o loans to them, market
participants told Fastmarkets.
This measure will enable developers to get su cient funding for construction
projects, an industry analyst said.
At the time of publication, no banks, government o ces or property
developers have released any o cial notices regarding the whitelist, however.
Some property developers' stock price also increased on Tuesday.
For instance, the Hong Kong Exchanges listed Chinese property developer
Sunec closed Tuesday's trading session at HKD 2.67 ($0.34), up by 14.59%
from the closing price of HKD 2.33 the day prior.
The bullish outlook for the property market supported rebar prices, but this
resulted in a decrease in procurement for the product, sources said.
A trader in Shanghai o ered rebar at 3,950-3,960 yuan per tonne on Tuesday,
30 yuan per tonne higher than Monday. The trader noted that his customers'
day-on-day procurement rates fell by 10% on Tuesday.
Market Chatter
“Contractors are reluctant to accept the current rebar prices. They have tight
cash ow at the end of the year and need to be cautious on spending money
on rebar. It will be hard for the rebar demand to return to what it was earlier
in the month,” a second trader in Shanghai said.
Billet
Fastmarkets' daily price assessment for steel billet domestic, exw Tangshan,
Northern China was 3,710 yuan per tonne including value-added tax on
Tuesday, up by 50 yuan per tonne from Monday.
Shanghai Futures Exchange
The most-traded January rebar futures contract closed at 3,983 yuan per
tonne on Tuesday, the same as Monday.
The situation in Turkish import scrap market is crucial to understanding of the
direction of billet and long steel prices from Russia because Turkey is a big
importer of steel products from Russia.
Billet
Because of the higher scrap prices, o ers for steel billet from Russia were
heard at $495-500 per tonne FOB Black Sea this week, compared with $495
per tonne FOB a week earlier.
There have not been any signi cant new deals for steel billet done at higher
levels this week, Fastmarkets understands, although a trading source said
that the workable prices for Turkish customers was $490-500 per tonne FOB -
or $510-530 per tonne CFR, depending on the quantity and destination port.
Ukraine-origin steel billet was available in Turkey at $540 per tonne CFR,
sources said, which was $10-per-tonne higher than last week’s deals.
An Egyptian source estimated the workable prices for Russian billet at $515-
© Fastmarkets 2023
 Steel prices & news Daily Market Newsletter
520 per tonne CFR, which would net back to $475 per tonne FOB Black Sea.
Fastmarkets therefore calculated its steel billet index export, fob Black Sea,
CIS at $494 per tonne on November 21, stable day on day but up by $4 per
tonne week on week.
Wire rod
Wire rod o ers from Russia have recently been limited, but were heard at
$550-555 per tonne FOB Black Sea in the week to Tuesday, compared with
$540-545 per tonne FOB Black Sea previously.
But an Egyptian customer said the new prices were a bit too elevated.
Wednesday 22 November 2023 12
“China is the benchmark now - o ering [wire rod at] $585 per tonne CFR,” he
said.
The cost of freight to Egypt from the Black Sea basin is currently around $40-
45 per tonne, depending on tonnage, which makes current o ers equivalent
to $590-600 per tonne CFR.
A trading source dealing with the African market said the workable price was
around $520-525 per tonne FOB.
Fastmarkets’ weekly price assessment for steel wire rod (mesh quality)
export, fob Black Sea, CIS, therefore widened to $525-550 per tonne on
November 21, up at the top end of the range from $525-530 per tonne on
November 14.

Reinforcing bar (rebar) prices

Symbol Description Date Price +/- Month Monthly Average

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 15 Nov 2023 605 - 630 -0.40% Oct 2023 602.5 - 625
€/tonne

MB-STE-0037 Steel reinforcing bar (Rebar) domestic, exw Italy, €/tonne 15 Nov 2023 600 - 620 0.00% Oct 2023 580 - 618.75

Steel reinforcing bar (rebar) import, cfr main EU port Northern

MB-STE-0051 15 Nov 2023 580 - 615 0.00% Oct 2023 560 - 580
Europe, €/tonne

Steel reinforcing bar (rebar) import, cfr main EU port Southern

MB-STE-0052 15 Nov 2023 560 - 580 0.00% Oct 2023 560 - 580
Europe, €/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 15 Nov 2023 550 - 570 0.00% 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 21 Nov 2023 3950 - 3980 0.76% 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 15 Nov 2023 41.5 0.00% Oct 2023 41.63

Steel reinforcing bar (rebar), import, loaded truck Port of Houston for
MB-STE-0171 15 Nov 2023 750 - 780 -0.65% 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 15 Nov 2023 590 - 615 0.00% Oct 2023 590 - 615

Wire rod prices

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 Wednesday 22 November 2023 13
Symbol Description Date Price +/- Month Monthly Average

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 15 Nov 2023 600 - 610 0.00% Oct 2023 596.25 - 603.75
€/tonne

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

MB-STE-0043 15 Nov 2023 575 - 585 -2.11% Oct 2023 570 - 587.5
€/tonne

Steel wire rod (mesh quality) import, main port Northern Europe,
MB-STE-0053 15 Nov 2023 560 - 585 0.00% Oct 2023 560 - 585
€/tonne

Steel wire rod (mesh quality) import, main port Southern Europe,
MB-STE-0054 15 Nov 2023 560 - 585 0.00% Oct 2023 560 - 585
€/tonne

MB-STE-0074 Steel wire rod export, fob main port Southern Europe, €/tonne 15 Nov 2023 565 - 575 0.00% 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
immediate delivery, $/short ton

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 beams, sections & bar prices

Symbol Description Date Price +/- Month Monthly Average

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 16 Nov 2023 1400 - 1480 0.00% Oct 2023 1155 - 1205
ton

MB-STE-0024 Steel beams domestic, delivered Northern Europe, €/tonne 15 Nov 2023 730 - 750 0.00% Oct 2023 722.5 - 772.5

MB-STE-0025 Steel beams domestic, delivered Southern Europe, €/tonne 15 Nov 2023 730 - 750 0.00% Oct 2023 722.5 - 772.5

MB-STE-0038 Steel sections (medium) domestic, delivered Northern Europe, €/tonne 15 Nov 2023 750 - 800 2.99% Oct 2023 730 - 820

MB-STE-0039 Steel sections (medium) domestic, delivered Southern Europe, €/tonne 15 Nov 2023 750 - 800 3.33% 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

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 Wednesday 22 November 2023 14
Symbol Description Date Price +/- Month Monthly Average

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
immediate delivery, $/short ton

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

Symbol Description Date Price +/- Month Monthly Average

MB-STE-0781 Steel slab export, fob ports Iran, $/tonne 15 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

Symbol Description Date Price +/- Month Monthly Average

MB-STE-0782 Steel billet export, fob ports Iran, $/tonne 15 Nov 2023 465 - 470 0.00% Oct 2023 475 - 476.5

MB-STE-0558 Steel billet index export, fob Black Sea, CIS, $/tonne 21 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 21 Nov 2023 525 - 530 0.96% Oct 2023 510.68 - 515.91

MB-STE-0157 Steel billet domestic, exw Tangshan, Northern China, yuan/tonne 21 Nov 2023 3710 1.37% 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

Symbol Description Date Price +/- Month Monthly Average

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

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 Wednesday 22 November 2023 15
Symbol Description Date Price +/- Month Monthly Average

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-0561 Steel ERW line pipe (X65), fob mill US, $/short ton 14 Nov 2023 1725 - 1775 6.06% Oct 2023 1625 - 1675

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

MB-STE-0873 Steel ERW line pipe (X70), fob mill US, $/short ton 14 Nov 2023 1750 - 1800 5.97% Oct 2023 1650 - 1700

Stainless & special steel prices

Symbol Description Date Price +/- Month Monthly Average

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 15 Nov 2023 2060 - 2150 -2.32% Oct 2023 2133.33 - 2223.33
$/tonne

Stainless steel cold-rolled coil, Asia grade 304 (2mm 2B), cif East
MB-STS-0018 15 Nov 2023 1950 - 1990 0.00% Oct 2023 1980 - 2030
Asian port, $/tonne

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

MB-STS-0015 15 Nov 2023 14300 - 14400 -2.05% Oct 2023 14750 - 14833.33
China, yuan/tonne

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

MB-STS-0016 15 Nov 2023 8300 0.00% Oct 2023 8300
China, yuan/tonne

MB-STS-0283 Stainless steel hot-rolled coil grade 304 export, fob China, $/tonne 15 Nov 2023 2000 - 2080 -2.39% Oct 2023 2070 - 2140

Stainless steel hot-rolled coil Asia grade 304, cif port East Asia,
MB-STS-0280 15 Nov 2023 1870 - 1890 0.00% Oct 2023 1943.33 - 1966.67
$/tonne

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 Wednesday 22 November 2023 16
Symbol Description Date Price +/- Month Monthly Average

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

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