Weekly Italian rebar and drawing-quality wire rod assessments softened by €5/t to €600/t ex-works and €660/t delivered.

India's private-sector steelmaker JSW Steel has announced a 13.2mn t/yr greenfield steel manufacturing complex in Paradip, Odisha.

Just becoming a secondary steelmaker will mean the country cannot produce all the requisite grades for its automotive industry, it added.

Structural changes in the hot-rolled coil (HRC) market could see the historical premium for north European material narrow, if not evaporate, compared with Italian in the coming years.

The volume review could technically be finalised and in place for 1 July, but Griffiths said the timeline is tight.

India's ArcelorMittal Nippon Steel (AM/NS) aims to raise its ferrous scrap use to 10pc by 2030 from the current 3-5pc, with it also calling for government policy support to enable the steel sector's decarbonisation.

AISI: US Steel Shipments Unchanged In 2023.

AISI: US Raw Steel Production in the week ending on February 10, 2024.