Weekly steel price tracker: 3rd week of December
Weekly steel price tracker: 3rd week of December
Regarding the price list, China’s steel price decreased by about 1% this week, while the price of iron ore dropped by approximately 3%. On the other hand, the Turkish steel price remained relatively stable, with a general fluctuation of less than 1%, despite the price of scrap rising by 2.5%. This disequilibrium, combined with reduced domestic demand, has created significant challenges for producers. Meanwhile, Iran’s steel price has shown stability with only slight reductions, but producers are struggling due to electricity shortages and a high inflation rate.
Commodity | Country | Terms | Ave. Price | Weekly Changes |
Iron ore 62% | China | CFR | 103$ | -3.0% |
Steel Billet | China | EXW | 427$ | -1.6% |
Steel Rebar | China | FOB | 477$ | -0.6% |
Wire rod | China | FOB | 494$ | -1.0% |
Steel Billet | Turkey | CFR | 460$ | +0.9% |
Steel Rebar | Turkey | FOB | 575$ | +0.6% |
Wire rod | Turkey | FOB | 566$ | -0.7% |
Steel Billet | Iran | FOB | 420$ | -1.2% |
Steel Rebar | Iran | FOB | 450$ | -1.1% |
Wire rod | Iran | FOB | 498$ | -0.4% |
The lack of electricity and rising inflation in Iran have made production increasingly difficult. Similarly, Turkey faces challenges, as the growing global demand for scrap forces the country to purchase this vital raw material at higher prices compared to before. Although seasonal demand is expected to decrease in January, as in previous years, China’s steel price remains under pressure due to weak internal consumption. This has compelled Chinese producers to allocate more of their output to export markets, striving to balance their operations amid reduced domestic demand.