Integrated steelmaker US Steel today has joined two of its competitors with increasing its flat steel prices by $100/short ton (st).

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.

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.

Brazilian iron-ore miner Vale SA's profit fell in the fourth quarter after the price of iron ore and sales by volume both declined.

Russia plans to post a budget deficit in 2023 of 2% of gross domestic product (GDP), Finance Minister Anton Siluanov said on Friday, despite towering spending and slumping energy revenues contributing to a huge shortfall in January.

In particular, the central and western regions are forecast to better receive foreign investment relocated from labor-intensive industries in coastal areas where labor costs have increased, they said.

Mexican liquid steel production fell 1.6% to 18.2Mt and consumption 1.3% to 28.1Mt in 2022, affected by a weak construction sector and rising inflation, according to a report by iron and steel chamber Canacero.

Exports surged by 28 percent to 1.06 trillion yuan, while imports were recorded at 950 billion yuan, an increase of 14.2 percent.