Global steel and raw material prices showed a m-o-m decline in September 2024, except for Turkish rebars which have been slightly volatile over the last few months. Most prices have shown a m-o-m decrease since May while scrap has been fluctuating somewhat from March. Where flats are concerned, in September, Chinese hot rolled coil (HRC) offers lost another 3% or $15/tonne (t) m-o-m to settle at $459/t FoB China ($474/t in August), their lowest so far since January 2021-the time from which data is available with BigMint. Japanese offers decreased 7% to $490/t ($525/t) m-o-m while Indian mills have been holding back from the market since May. In longs, Turkiye’s rebar inched up 2% to $586/t ($576/t) while Black Sea billets fell another 3% m-o-m to $464/t ($478/t).
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