Steel News & Market Reports
Steel market updates, daily price reports, industry events and more.
Metal prices slide amid weak industrial activity
Metal and mineral prices fell by 7 percent in 2024Q3 (q/q), before edging up in October. The decline in 2024Q3 was largely attributed to signs of slowing industrial activity in major economies
Jan-Oct steel output dips 2.4% YoY at key Chinese steel hubs
Crude steel production among China's top ten steelmaking provinces and autonomous regions totalled 609.57 million tonnes during this year's January-October period, down by 2.39% on year, with seven out of the ten posting on-year declines…
Turkish scrap prices approach 2024 lows
Scrap prices in Turkey are under pressure amid weakening steel prices and a lack of steel demand. Turkish scrap market sentiment was quite negative on Tuesday.BMI forecasts ore prices at $100/t in 2025
The Chinese real estate sector remains a major drag on demand. Overcoming the downturn in this market will require many years of effort, given the scale of unfinished projects and unsold housing stock, BMI notes.
Chinese steel exports are booming but here’s why that won’t last
Steelmakers in the world’s biggest producer are leaning heavily on overseas sales to soak up a surplus caused by the country’s years-long property crisis. But they’re running into dumping accusations from importers and a protectionist…
Swiss Steel to cut 800 jobs amid weak demand
Swiss Steel Group (STLN.S) will cut around 800 jobs in its home market of Switzerland and abroad due to weak demand in European manufacturing, low production levels, and a subdued growth outlook, the steelmaker said…Additional subsidies to steelmakers in a number of countries boost capacity expansion – OECD
This contrasts with the situation in the organization's member states, where subsidies have remained relatively stableThe US will extend the anti-dumping duty on hot-rolled steel from Ukraine
The U.S. Department of Commerce (DOC) has announced the final results of the review of anti-dumping and countervailing duties on certain types of hot-rolled flat carbon steel products from China, India, Indonesia, Taiwan, Thailand and…European steelmakers call for restrictions on scrap exports
European steelmakers are calling on the European Commission to limit scrap exports so that the bloc can achieve its sustainable development goals and maintain industrial competitiveness.
Australia may lose $45 bln amid green steel rush, report says
Top global iron ore exporter Australia could lose as much as half its revenue from the sector if it fails to start producing green iron fast enough, as other countries start making steel using renewable…
Steel Dynamics helping with proposed U.S. 30 improvements in Whitley County
Proposed changes to a busy stretch of U.S. 30 in Whitley County were unveiled Wednesday morning by Indiana Governor Eric Holcomb during a media event at Steel Dynamics east of Columbia City.Tampa Bay Steel to be aquired by Canadian company for $79.5M
Tampa Bay Steel has operated out of Tampa for more than 40 years.India's Apr-Oct finished steel imports at seven-year high
India's finished steel imports during April-October surged to a seven-year high at 5.7 million metric tons, according to provisional government data reviewed by Reuters on Wednesday.Nucor raises HRC prices by $10/t
US steelmaker Nucor has announced an increase in its weekly spot price (WSP) for hot-rolled coils by $10 per tonne compared to the previous week, to $750 per short tonne. This is evidenced by the…Iron ore prices down 3% since the beginning of November
Since the beginning of November 2024, iron ore futures on major Asian exchanges have been declining, reflecting global economic trends and expectations of stimulus measures from China.Cleveland-Cliffs widens North American lead as top flat-rolled steel producer with new acquisition
Cleveland-Cliffs Inc. led Northeast Ohio's mergers and acquisitions activity for the week by completing its $2.8 billion cash and stock acquisition of Stelco Holdings Inc. of Ontario, Canada, for about $2.8 billion in cash and…New green steel firms could reap rewards as EU carbon tariffs loom
On Thailand's eastern coast, plans are underway to build an electric arc furnace that will deliver green steel to Europe and benefit from contentious new rules that will force buyers to pay tariffs on high-carbon…Nucor Louisiana reaches world record for DRI production per day
Tenova, an Italian company that is part of the Techint Group and specializes in innovative solutions for the steel and mining industries, announced that a subsidiary of the American steel giant Nucor Corporation, Nucor Steel…ArcelorMittal could boost Ukraine steel output if situation stabilises
ArcelorMittal , the world's second-largest steelmaker, could more than double annual production by at least 3 million metric tons in war-torn Ukraine if the situation stabilises there, the steelmaker's Chief Financial Officer Genuino Christino told…