Hoa Phat Group has signed a contract to export 10,000 tonnes of steel wire in coil form to Europe.

"Pretty much everyone accepts the current level [of premiums] is the new reality", a trader said.

Finished Import Market Share YTD at 24%

In November alone, production of finished steel reached over 1.82 million tonnes.

Europe may continue to dominate US thermal coal exports in 2023 but demand for high-sulfur coal may wane.

US hot rolled coil (HRC) spot prices moved down as the market remained quiet due to the Christmas holiday.

The domestic demand forecast was cautiously optimistic, according to market sources, led by stronger increased spending for the infrastructure market.

Finished Import Market Share Estimated at 23 Percent in December.