Steel News & Market Reports
Steel market updates, daily price reports, industry events and more.
Iron ore prices recover from late July downturn
During the past week, raw material quotations increased by 2-3%. September futures for iron ore, the most traded on the Dalian Commodity Exchange, for the period July 26 – August 2, 2024 increased by 2.6%…
Pig iron prices in Black Sea ports fell by 3.7% in July
Pig iron prices in Black Sea ports for the period from July 5 to August 2, 2024, decreased by 3.7% – to $395-405/t FOB. In July, raw material prices were mostly stable, and the main…
Drop in prices for hot-rolled coils continued in July
World prices for hot-rolled coil (HRC) continued to decline in most major markets during July. In Europe, the situation was mostly stable, with slight fluctuations, and in the US and China there was a decline…Japan's Nippon Steel raises full-year profit forecast, confident on U.S. Steel deal
Japan's biggest steelmaker Nippon Steel (5401.T), opens new tab on Thursday raised its full-year profit forecast amid improving margins in the steel business, and reiterated its confidence in closing its proposed acquisition of U.S. Steel…India's steel ministry seeks probe into cheaper imports, government source says
India's federal Ministry of Steel has asked the trade ministry to investigate cheaper steel imports from China and Vietnam, a government source directly aware of the matter told Reuters on Wednesday, as New Delhi grapples…
The EU faces a shortage of 16 million tonnes of steel per year
Last week, EUROFER published its Economic and Steel Market Outlook for 2024/2025 (Q2 Report). If you read it without reflection, you might think that the EU steel industry is still struggling.Chinese stainless steel spot market prices up
Spot market prices for Chinese stainless steel, especially for hot-rolled coil, rose on Monday. But stainless steel scrap is also showing rising prices. Asian stock exchanges, above all the Japanese Nikkei 225, are jumping upwards.…Iron ore prices fell by 6-7% during July
Quotations of iron ore on the Singapore and Dalian stock exchanges during the period fell to the lowest level since April
Small growth in world crude steel output
World crude steel production in June 2024 was 161.4 million tonnes (Mt) in June, a 0.5% increase compared to June 2023.Stainless steel scrap price trend continues to rise
The price trend for stainless steel scrap continues to rise. Asian stainless steel futures rise by 1.8%. China initiates review procedure for anti-dumping measure. And Turkey imports more stainless steel again.Chinese steel traders seek delay of new rebar standards
Regional steel trading associations in China are seeking new quality standards for steel rebar, used in construction, to be delayed after news of the rules' planned implementation on Sept. 25 triggered inventory sell-downs, traders and…Acerinox says economic concerns cloud steel demand recovery in Europe
Spanish steelmaker Acerinox (ACX.MC), opens new tab said on Wednesday that visibility would remain poor across the European steel markets in the third quarter, as economic uncertainty translates into slower than expected demand recovery.Global rebar prices mostly stabilized in July
Global rebar prices have remained stable in most major regions since the beginning of July. The market stagnation is a result of a slowdown in steel demand.
Steelmaker Nucor beats estimates as volumes partially offset weak pricing
Nucor Corp (NUE.N), opens new tab beat estimates for quarterly earnings on Monday as increased volumes in the steel products segment partially offset the lower domestic steel prices.
Nippon Steel hires Mike Pompeo to advise on U.S. Steel deal
Japan's biggest steelmaker, Nippon Steel Corp. (5401.T), opens new tab, has hired former U.S. Secretary of State Mike Pompeo to help with its effort to acquire U.S. Steel (X.N), opens new tab, the Japanese company…Global stainless steel production increases in Q1 y-o-y
Global stainless steel production rose by 5.5% in January-March 2024 compared to the same period in 2023, reaching 14.58 million tons, according to the World Stainless Association.Italy reduced steel production by 3.6% m/m in June
The production of rolled products fell by 8.3% m/m during the month, and the production of flat products increased by 0.5% m/mAISI Reported Surge in U.S. Raw Steel Output
The leading producer was the Southern region, with an output of 737,000 net tons.US steelmakers brace for tepid quarterly profit, further price declines
Top U.S. steelmakers are expected to post a decline in second-quarter earnings and could face additional pressure from a further retreat in steel prices heading into a slow summer season, according to analysts.