Most global steel and raw material prices down-trended m-o-m in June 2024, after showing an upward flicker in May, reveals data maintained with BigMint. Iron ore declined the most while coking coal bucked the trend. In June, Chinese hot rolled coil (HRC) offers, after rising in the previous month, fell back again, by 3.5% or $19/tonne (t) m-o-m to $523/t FoB China,their lowest since January 2021, the time from which data is available with BigMint. Japanese offers also fell $8/t or 1.41% to $560/t ($568/t) while Indian mills held back from the market for two consecutive months (May and June) amid better home realisations and unviability in export offers. In longs, Turkey’s rebar fell a slight 1.2% or $7/t to $578/t ($585/t). Black Sea billet export offers also dipped, by $6/t to $496/t ($502/t).
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