Global steel prices predominantly showed a downtrend in February 2024 m-o-m, even if the declines were moderate to slight, reveals data maintained with BigMint. Only billets resisted the trend. Chinese HRC offers dropped by $11/t to $563/tonne ($574/t in January, 2024). Japanese HRC offers fell by $10/t to $600/t ($610/t) while Indian mills, which had re-entered the market in January, after a three-month gap, saw their offers dipping marginally to $597/t ($601/t). Turkiye’s rebar lost $2/t to $613/t (615/t). However, Black Sea billet export offers rose $7/t to $519/t ($512/t). All prices were on FOB basis.
