US steelmaker Nucor has raised its flat rolled steel prices by $100/short ton (st) and set a minimum target price of $1,000/st for hot rolled coil (HRC) products.

China's steel industry is expected to see roughly balanced supply and demand in 2023, thanks to the steady recovery of the Chinese economy, according to a senior official of China's top steel industry association.

This was a 9.8% increase from the 2,262,000 permit tons recorded in December and a 12.7% increase from the December final imports total of 2,203,000.

US steelmaker Nucor kept its plate prices flat last week in its latest price announcement for the products.

India remained a net importer of steel for the fourth consecutive month in January, with exports climbing to a seven-month high on increasing international demand.

Australian resources firm BHP and Japanese trading house Mitsubishi plan to sell the 12mn t/yr Blackwater and 2.5mn t/yr Daunia mines from their BHP Mitsubishi Alliance (BMA) joint venture in Queensland.

Traders associations, regulators and other market representatives have responded to the European Commission's consultation proposed power market reform.

In the week ending on February 18, 2023, domestic raw steel production was 1,654,000 net tons while the capability utilization rate was 74.0 percent.