Steel News & Market Reports
Steel market updates, daily price reports, industry events and more.
China March iron ore imports edge up, steel exports near 8-year high
China's iron ore imports in March rose about 0.5% from a year earlier, customs data showed on Friday, amid expectations that demand will pick up after the Lunar New Year holiday break as steelmakers typically…
Rising energy prices affect the Spanish steel industry
The country's steel companies need the government's support in matters of decarbonization
Global rebar prices continue to stagnate
Global rebar prices declined in most major regions in early April. The main negative factor remains unfavorable conditions in the Chinese steel market and weak demand.
Nippon Steel Bid to Buy US Steel Gets Extended Antitrust Review
he US Justice Department has opened an extended antitrust investigation into Nippon Steel’s $14.1 billion takeover bid for United States Steel Corp., creating additional legal hurdles to completing the deal, according to three people familiar…
worldsteel Short Range Outlook April 2024
The World Steel Association (worldsteel) has today released its Short Range Outlook (SRO) steel demand forecast for 2024 and 2025. worldsteel forecasts that this year demand will see a 1.7% rebound to reach 1,793 Mt.…
Iron ore prices in 2024 will be at $99-100/t – Capital Economics
Iron ore prices in 2024 will range between $99-100 per tonne. In the second quarter and fourth quarter, prices will be at $100/t, and in the third quarter – $99/t.
India turns net importer of finished steel in 2023/24, data shows
India was a net importer of finished steel during the 2023/24 financial year that ended on March 31, according to provisional government data seen by Reuters on Monday.
Nucor introduces weekly spot prices for hot rolled steel
Every Monday, the company will inform customers of spot prices for its products, which will be valid until the following week
Global scrap prices fell significantly in March
Major global markets faced pressure from uncertainty in the steel market and falling prices for other raw materials
Steel Wire Rod Prices Fluctuate Globally with Contrasting Trends in USA, Germany, and China
Towards the week ending March 22nd, Steel Wire Rod prices in the USA dropped due to reduced demand and lower raw material expenses, including a 1.3% decrease in Pet coke FOB USGC (USA). Meanwhile, February…
China steel bar producers call for authorities to restrict output amid price slump
Fifteen of China's major steel bar producers have unanimously called on authorities for measures to restrict steel bar output to support prices, the China Iron and Steel Industry Association said on Tuesday.
British Steel secures major Egyptian contract to supply railway track
British Steel has secured a deal to supply rail track for a new, fully-electrified route in north Africa, the company has announced.
Automakers urge White House to oppose US Steel sale to Cleveland-Cliffs
A group representing major automakers on Friday urged the White House to oppose any effort by steelmaker Cleveland-Cliffs (CLF.N), opens new tab to buy rival U.S. Steel (X.N), opens new tab, warning that a deal…
The US steel industry is going through a rough patch. How did it get there?
President Biden has come out against the purchase of U.S. Steel by Japan’s Nippon Steel, saying it’s vital to maintain domestic ownership for one of America’s largest steel manufacturers.
Nippon Steel emphasises its 'deep roots' in the US as it pursues U.S. Steel deal
Nippon Steel (5401.T), opens new tab intends to pursue its proposed acquisition of U.S. Steel (X.N), opens new tab and wants its "deep roots" in the United States to be recognised, its new president said…
Cleveland-Cliffs raises rolled steel prices for the second time in March
American steelmaker Cleveland-Cliffs announces an increase in minimum base prices for hot-rolled, cold-rolled and coated steel by $60 per short ton. This is stated in the company’s press release.
Trading activity in the European ferroalloy market remains slow
Trading activity in the European high carbon ferrochrome (HC FeCr) market remained slow last week, according to Metalshub Intelligence Service (Metis), as the market put pressure on prices.
US reduced steel imports by 3.2% m/m in February
In February 2024, US steelmakers reduced steel imports (rolled and semi-finished products) by 3.2% compared to January this year, to 2.47 million tons. This is according to the American Iron and Steel Institute (AISI).
Global prices for hot-rolled sheets decline amid falling raw material prices
Global hot-rolled steel prices are adjusting after a sharp rise in late 2023 and early 2024. The slowdown in demand for products has kept the downward price trend in major global markets for about 2…