Fastmarkets is proposing to change the way it calculates its daily hot-rolled coil index, fob mill US, to align its methodology with other Fastmarkets indices

Fastmarkets proposes to discontinue its steel heavy plate, 8-50mm, export, fob Black Sea, CIS price assessment (MB-STE-0013) due to substantially reduced market activity.

The fall in import prices for finished steel products in the United States was not enough to attract many buyers due to logjams at domestic ports that have made it costly, time-consuming and risky to buy foreign steel, Fastmarkets has learned

Fastmarkets invited feedback from the industry on its pricing methodologies for its Northern Europe and United States hot-rolled coil (HRC) indices as part of its annual methodology review process.

Fastmarkets has corrected its daily steel hot-rolled coil index, fob mill US, which was published incorrectly on Wednesday March 25 due to an editorial error.

Following a consultation period and market feedback, Fastmarkets will not discontinue its biweekly imported steel plate price assessment.

India has started to impose a 15% export duty on iron and steel products and raised the export duty on steelmaking raw materials such as iron ore to 50%

Ukrainian steelmakers, particularly Metinvest and Interpipe, have welcomed the decision by the United States to suspend Section 232 tariffs of 25% against imports of steel from the country for one year

Flat-rolled steelmakers have more than 13 million short tons of new production capacity planned or under construction in the United States, but analysts do not foresee a glut depressing the market significantly in 2022

Fastmarkets invited feedback from the industry in an open-consultation process on the pricing methodology for the following assessments: steel cold-rolled coil, fob mill US; steel hot-dipped galvanized coil (cold-rolled base), fob mill US; and steel cut-to-length plate carbon grade, fob mill US.