Steel Price Tracker: Mixed price trends globally while demand remains a key constraint

Research evidence excerpt

Steel Price Tracker: Mixed price trends globally while demand remains a key constraint

Türkiye: export market remains subdued

Turkish rebar export prices were flat at $590/t last week. According to Platts, Turkish

mills maintained higher offer levels at $600-610/t, though tradable values were reported

slightly lower at $590-595/t, reflecting limited buyer acceptance. Export activity

remained subdued, with market participants highlighting difficult trading conditions

amid weak downstream demand and a challenging economic outlook. Despite the

approach of a holiday period, which would typically support stronger activity, trading

volumes remained slow, reinforcing the overall weak market sentiment.

Europe: market pressured by weak end-user demand

According to Platts, European HRC prices edged lower in mid-May, pressured by

persistently weak end-user demand and sufficient material availability for July delivery.

While mills continued to defend offer levels, transaction prices were reported at lower

workable levels, reflecting limited buyer appetite. Purchasing activity remained subdued,

with buyers focusing only on near-term requirements and avoiding restocking. This

cautious approach was reinforced by ongoing uncertainty surrounding upcoming changes

to the EU safeguard regime and the implementation of the Carbon Border Adjustment

Mechanism (CBAM) contributing to a broadly muted market environment.

North America: mills remain firm on pricing

Platts reported that weekly US steel prices were mixed last week, with HRC flat w/w at

$1,179.5/t and rebar up $30/t to $950/t. Lead times were up to 6.4 weeks for HRC and

to 8.4 weeks for CRC. According to Platts, US HRC market sentiment remained firm, with