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Global steel market April 26, 2024

US West Coast steel exporters do a lot of business with India:

U.S. West Coast steel exporters have sold at least five shipments to India at roughly flat prices as we approach elections and worries grow over weakening sentiment linked to lower local steel prices in India. These transactions have taken place while we are approaching the monsoon season.

Forecast of steel price growth in China in the second quarter of 2024:
Industry experts predict that in the second quarter of 2024, the price of steel products will increase in China. This increase is due to increased demand for steel products and the use of economic stimulus measures

The inventory of rolling coils in China’s steel industry has decreased:

Coil inventories in China’s steel industry have decreased significantly, which could lead to higher steel prices in the country.

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