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EU coil price outlook deteriorates
The outlook for steel consumption in the rest of this year is weak.In the distribution sector, conditions in Germany and Spain are reported to be particularly weak, with activity in France faring slightly better in comparison.Seasonal stock replenishment is predicted in the autumn.Despite the expectation that the low point in the current cycle had been reached, prices for steel coil continued to decline in mid/late July, albeit modestly.One of few positives for steel coil demand is the automotive sector.

🔗MEPS International

🌎 International · 🗓️ August 29, 2023 · Steel

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US cold finished bar imports up 26.4 percent in June
Other top sources of imported cold finished bar in June include Canada, with 1,965 mt; Germany, with 1,475 mt; Mexico, with 1,309 mt; and Spain, with 1,246 mt.The US imported the most cold finished bar from Italy in June, with 2,851 mt, compared to 1,083 mt in May and 1,605 mt in June 2022.

🌎 International · 🗓️ August 29, 2023 · Steel

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SEAISI webinar: Cautious optimism for ASEAN steel demand for 2023-2024 despite weak H1
1 percent in 2023 and 2024, though the growth of the real demand is expected to be 3.Demand in the ASEAN region is forecast to increase by 6.3 percent growth in 2022.In the Philippines, despite drop in demand in the second quarter, for the whole 2023 year the industry association is still expecting some small increase – to 10.6 percent in 2023 and 4.

🌎 International · 🗓️ August 29, 2023 · Steel

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US announces preliminary AD duty margins on tin mill products from eight countries
The DoC has determined dumping margin of zero percent for KG Dongbu Steel Co.52 percent for Chinese companies, and 7.and Tata Steel UK Ltd, while it has calculated dumping margin of 5.Accordingly, the DoC has determined that tin mill products from South Korea, the Netherlands, Taiwan, Turkey and the UK were not sold at less than normal value, while the same products from China, Canada and Germany were unfairly traded., Ltd.

🌎 International · 🗓️ August 29, 2023 · Steel

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European steel market seeks direction
Mills will seek to raise prices, at the earliest opportunity.In Germany, meanwhile, confidence in the state’s ability to act is at a new low.Distributors and service centres are waiting for September, to evaluate the price direction.A recent recovery in Chinese steel demand appeared to offer positive signals for the international market.Few distributors felt compelled to place stock purchases in advance of the holidays.

🔗MEPS International

🌎 International · 🗓️ August 29, 2023 · Steel

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