Global steel prices fell further m-o-m in March 2024, reveals data maintained with BigMint. Chinese HRC export offers dropped by $18/tonne (t) or 3% to $545/t in March 2024 against ($563/t in February). These offers are at a four-month low. Japanese HRC offers took cue from China and fell $15/t or 2.5% to $585/t ($600/t) while Indian mills, saw their offers eroding by $11/t or 2% to $586/t ($597/t). The BigMint HRC export index fell to a 7-month low on 19 March. In longs, Turkiye’s rebar fell 3% to $597/t ($613/t). Black Sea billet export offers, which had bucked the trend in February, failed to retain the momentum in March, dropping to $508/t ($519/t), losing 2%.
