Asian steel hot-rolled coil prices have had difficulty rising in recent weeks due to a number of major themes in the market, sources told Fastmarkets.

Fastmarkets’ weekly price assessments for Polish long steel were published on Thursday October 31, one day ahead of schedule due to a public holiday in Poland on November 1.

Jinnan Iron & Steel Group is the latest company to join the push to expand China’s steelmaking footprint in the Middle East and is working with Brazil’s Vale to establish an iron ore concentration plant at the Sohar Port and Freezone in Oman, Fastmarkets understands.

China and India are ramping up electrical steel production through new joint ventures and acquisitions to meet rising global demand and sustainability goals.

A new Chinese state-owned enterprise (SOE) called China Resources Recycling Group (CRRG) has been established to build a national platform for recycling and reusing resources, according to an announcement from Chinese officials on October 18. While details of the company’s specific plans remain scarce, market participants remain concerned about weak market fundamentals, sources told Fastmarkets..

China’s domestic and export steel hot-rolled coil prices rose on Monday October 28, reflecting a robust performance in the futures market, but the upward price movement did not translate into increased demand.

Chinese stainless steel prices fell in the week ended Wednesday October 23 in both the domestic and export markets, in response to weak demand and lower-cost raw materials, sources told Fastmarkets

Steel leaders from throughout Latin America gathered during October 29-31 in Buenos Aires, Argentina, at Alacero Summit 2024 to learn more about the region’s growing importance in the global steel market

China’s ferro-alloy industry continues to track toward sustainable development, focusing on decarbonization as a foundation and utilizing renewable energy and advanced technologies to reduce electricity consumption, waste gas and slag.

Nickel pig iron (NPI) prices in China continued to climb in the week to Friday October 18, on an increase in tradbg amid positive sentiment, sources told Fastmarkets.