Global steel market prices are facing downward pressure, with key product segments experiencing a decline. Steel Futures on the Shanghai Futures Exchange and London Metal Exchange have dropped by 1.31% today to $3,155.00 per tonne. This follows a broader trend where hot-rolled coil (HRC) prices have seen a recent decrease, with a major US steel producer, Nucor, reportedly lowering its HRC prices to $875 per tonne. This cut aligns with a general decline in HRC prices across most regions over the past month.
Similarly, other products are feeling the squeeze. OCTG pipe prices in North America fell by 6% in July, while average prices for Brazilian pig iron in July fluctuated between $400 and $410 per tonne. The price for square billets also saw a modest rise of $10-$20 per tonne last month. The overall market is under pressure from factors including easing demand and higher energy costs, which are becoming a significant burden for industrial consumers in many regions, especially in Europe and Ukraine. While a few sectors, like Ukraine's steel consumption, have shown growth in the first half of 2025, the broader price trends indicate a challenging environment for producers.
