Steel Prices Increased Sharply At The End Of February

As previously forecast, Formosa price has increased by more than $60 for March and April delivery orders, reaching $700-705/mt. This is driving domestic prices up faster.
China futures market continued to have a strong uptrend, the price of HRC SS400 touched $620/mt. Domestic China shows increasing purchasing power and domestic prices are also increasing strongly this March.
The market of billet and construction steel increased, but the increase was not strong.
EU and US markets have bought back strongly since early February, with large orders of 3000-5000mt each. Good control of inflation and hunger since the fourth quarter of 2022 has made buyers consider making purchasing decisions in this rhythm.