US steel prices may return to pre-pandemic level

American steelmakers believe that the HRC price at the beginning of 2023 will be lower than $650/t

The current prices on the European HRC market are not indicative

Buyers are testing the market to see if prices have bottomed out

The European hot-rolled coil market is not yet ready for recovery

Supply of Asian imports increased in the EU market in October

HRC prices in Europe continue to fall due to low demand

Despite the willingness of producers to provide discounts on products, demand is not recovering

HRC prices in Europe fell due to weak demand

Activity in the European HRC market remains low

Turkish HRC exports fell by 7% in June

The main destination was Egypt, where 190.9 thousand tons were shipped

German HRC producers offer discounts on their products

In this way, enterprises stimulate the purchase of hot-rolled coils

Turkey increased HRC supplies by 19% in June

Revenue from deliveries amounted to $166.9 million, which is 13.6% more than last month

In 5 months, Turkey reduced HRC imports from Ukraine by 63%

In May, Ukrainian metal products deliveries to Turkey resumed, while imports stopped in April

Remove trade barriers, no more risks

The EU market easily absorbs all steel exports from Ukraine

Turkey in January-February reduced HRC import from Ukraine by 14%

In February import of finished steel products reduced by 3%

Turkey increased imports of HRC from Ukraine 2.2 times in 7M

Ukrainian steel products accounted for 23% of Turkey’s total imports in the same period