Steel News & Market Reports
Steel market updates, daily price reports, industry events and more.
Indian steel prices seen dropping on US tariffs
Indian domestic steel prices may witness a correction of around INR 3,000/tonne ($34.45/t) due to the potential redirection of excess supply into India amid US import tariffs.
China to mandate steel output cuts to ease glut, restore profits
Authorities will promote industry restructuring to reduce production, the nation’s economic planning agency said at the National People’s Congress in Beijing on Wednesday.
Global pig iron prices recovered after a fall
Price offers for pig iron shipments in Brazil increased to $430/t by the end of the month, FOB Ponta da Madeira, according to Metalplace. This corresponds to quotes at the beginning of December 2024. After…
European producers prepare for higher prices for HRC
Buyers cannot book purchases from local producers at a price lower than €600/t. Psychologically, the market is ready for a price change, distributors sayAsian billet prices continue to decline
Buyers take a wait-and-see attitude in hope for further price cuts despite announced production cuts in China and declining inventoriesGlobal steel, raw material prices show mixed trends in Feb'25. What lies in store for Mar'25?
Global steel and raw material prices showed varying trends this month (till 25 February), with a range of factors inducing volatile market sentiment.
Italian iron rises as EU exhausts Russia quota
Italian pig iron asking prices are on the rise, primarily influenced by a scarcity of alternatives to supply from Russia. A Ukrainian producer is offering pig iron in Italy at $450-460/tonne cfr and negotiating with…Nucor raises HRC prices for the sixth time since the beginning of the year
US steelmaker Nucor has announced another increase in the spot price (CSP) for hot rolled coil (HRC). Starting March 3, it will be $900 per short tonne for all producers’ plants, except for California Steel…Toyota to reduce steel prices for spare parts producers
Toyota Motor Group, Japan’s largest automaker, will reduce prices for flat products sold to affiliated component manufacturers covered by its centralized procurement scheme for the first half of fiscal year 2025/2026 (April-September).
Hot-rolled coils prices in 2025 in North America will amount to $600-800/t – survey
Most steel industry executives in North America expect hot rolled coil (HRC) prices to fluctuate between $600 and $800 per short tonne this year. This is according to the results of the annual survey conducted…ArcelorMittal Warsaw puts into operation a renovated rolling mill
Hot tests were carried out in November 2024, ahead of the original schedule of January 2025. The project was originally scheduled for 2020/2021. At the time, the company claimed that as a result of these…Global iron ore prices fell at the end of February
There were fluctuations in the iron ore market in February, with prices reaching their highest level since July 2024 by mid-month, but the trend was not long-lasting, with May futures on the Dalian Exchange falling…Spain increased steel production by 17.8% m/m in January
Spanish steelmakers increased steel production by 17.8% – to 1.025 million tons in January 2025 compared to the previous month. Thus, the country ranked 16th in the global ranking of steel producing countries (69) by…EU steel industry needs more protection, says French industry minister
Europe's ailing steel sector needs to be better protected from cheap imports as current measures are insufficient, French industry minister Marc Ferracci said on Thursday.France cut steel production by 12.8% y/y in January
In January 2025, French steelmakers reduced steel production by 12.8% compared to January 2024, to 755 thousand tons. Thus, the country fell to 19th place in the global ranking of steel producing countries (69) by…US, Ukraine agree to terms of critical minerals deal
The U.S. and Ukraine have agreed on the terms of a draft minerals deal central to Kyiv's push to win Washington's support as President Donald Trump seeks to rapidly end the war with Russia, two…Nucor raises prices for hot rolled coils for the fifth time since the beginning of the year
The American steel company Nucor has announced another increase in the spot price (CSP) for hot rolled coil (HRC). Starting from February 24, 2025, the base price of HRC will be $860 per short tonne…Cleveland-Cliffs opens April contracts for hot-rolled steel at $900/t
American steelmaker Cleveland-Cliffs has announced the opening of the April contract period for hot rolled steel (HRC), setting its price at $900 per tonne. This is stated in a letter to customers.
SSAB Americas raises prices for heavy plates by $100/t
Steel company SSAB Americas has announced a $100 per short tonne price increase for its heavy plate products. This was reported by SMU with reference to a letter to customers dated February 19, 2025.