Developing market steel prices showed mixed movement in November 2025, with demand remaining uneven and buyers adopting a cautious approach.
In Brazil, mills pushed HRC prices higher, but elevated inventories and weak downstream demand continued to cap momentum, while import pressure — particularly from China — remained strong. In India, steel prices softened following the expiry of safeguard duties, allowing lower-priced imports back into the market and keeping short-term buying subdued.
Turkey’s flat steel market stayed oversupplied, with volatile scrap costs pressuring margins, although automotive-grade coil continued to outperform. Across South Africa and the UAE, demand remained soft, with low transaction volumes and buyers largely delaying forward purchases.
At Almet Trading, we monitor these region-by-region signals to guide informed sourcing and supply decisions.