Steel News & Market Reports
Steel market updates, daily price reports, industry events and more.
India's finished steel imports from China hit 7-year high in April-August, data shows
India's finished steel imports from China hit a seven-year high during the first five months of the 2024/25 financial year, provisional government data reviewed by Reuters showed.
Nippon Steel to sell $211 mln in assets to manage debt amid U.S. Steel deal
Nippon Steel (5401.T) to sell at least 30 billion yen ($211 million) in assets in this fiscal year to manage its debt, the Nikkei quoted its vice chairman as saying on Friday, as it waits…
Steel prices avoid a fall spike
Could we be entering a period devoid of wild price swings? With the U.S. Department of Commerce turning its attention to imports of coated steel, U.S. manufacturers might have to start looking for domestic sources
China Steel Corp slashes domestic steel prices
China Steel Corp Chian's largest steelmaker, yesterday slashed steel quotation prices for domestic deliveries next month and next quarter as already sluggish demand worsened.Cleveland-Cliffs considering pulling out of plan for Middletown Works
Cleveland-Cliffs is considering moving away from plans announced earlier in March to overhaul the ironmaking systems and installing a new environmentally friendly system at the Middletown Works, a plan the company said would ensure union…Japan, US face shared challenge from cheap China steel, Japan PM hopeful says
Japan and the United States should avoid confrontation about the steel industry and work together amid competition from China, the world's top steelmaker, leading prime ministerial candidate Shinjiro Koizumi said on Saturday.
Chinese HRC granted breather, Formosa maintains HRC prices
Vietnam’s Trade Remedies Authority has extended the questionnaire submission date for domestic manufacturing companies and importers in its anti-dumping investigation against hot rolled coil imports from China and India.Kanto monthly scrap export tender price falls
The Kanto Tetsugen monthly Japanese scrap export tender closed lower on WednesdayUS locks in steep China tariff hikes, some industries warn of disruptions
The Biden administration on Friday locked in steep tariff hikes on Chinese imports, including a 100% duty on electric vehicles, to boost protections for strategic industries from China's state-driven industrial practices.Nucor raises weekly HRC price by $10/t
It is expected that the market will accept an increase to the level of $720/tIndia to impose up to 30% tariffs on some steel imports from China, Vietnam
India will impose tariffs of between 12% and 30% on some steel products imported from China and Vietnam in a bid to safeguard and boost local industry, an Indian finance ministry order showed.Fitch Solutions downgrades global steel price forecast for 2024
The average global steel prices this year will be at the level of $660/t The BMI Country Risk and Industry Research division of the international credit rating agency Fitch Solutions has revised its forecast for…China August iron ore imports slide on steel rout, soft demand outlook
China's iron ore imports in August fell 1.38% from July and slipped 4.73% from a year earlier, customs data showed on Tuesday, as falling steel prices and a gloomy demand outlook dampened buyers' appetite.China's HRC output recovers, prices hit 8-yr low
Production of hot-rolled coils (HRC) among the 37 Chinese flat steel producers Mysteel regularly monitors recovered to 3.1 million tonnes during the week of September 2-6, up by 54,300 tonnes or 1.78% on week, the…EU scrap market balance
The EU steel industry has a huge unrealized potential to increase scrap consumption to meet the goals of reducing carbon emissions and developing a circular economyCleveland-Cliffs reiterates offer to buy mills U.S. Steel is threatening to close
Cleveland-Cliffs is reiterating its interest in buying unionized mills that U.S. Steel is threatening to close should its takeover by Japan's Nippon Steel get blocked by President Joe Biden.Global steel, raw material prices slide m-o-m in Aug. Short term looks dull
Global steel and raw material prices declined m-o-m in August 2024, reveals BigMint data. Some sharp swings were detected, especially in coking coal and iron ore. The China factor is keeping hot rolled coil prices…India: HRC-rebar spread rises after four-month gap in Aug'24, but prices still under pressure
The HRC-rebar spread reversed to normalise in August, 2024, after a gap of four months, reveals BigMint data. Usually, hot rolled coils (HRCs) are sold at a premium to rebars. However, it may be recalled,…Global scrap consumption decreased by 1.5% y/y in H1 2024
Global consumption of ferrous scrap in the first half of this year, according to BigMint, decreased by 1.5% year-on-year – to 325 million tonnes.