Steel News & Market Reports
Steel market updates, daily price reports, industry events and more.
Kern County Board Gives Approval to California Rebar Mill
The Kern County Board of Supervisors in California have approved plans from Pacific Steel Group to build a rebar mill and scrap metal recycling facility. It will become the first new steel mill in California…
Potential spikes in steel prices could endanger offshore wind projects – report
There is likely to be an explosion of demand for steel in the UK, and the potential price spikes that could follow could delay key projects, such as the expansion of offshore wind, a report…
US awards record $6bn to back industrial emissions reduction projects
The US Energy Department on Monday announced $6 billion in federal funding to subsidize 33 industrial projects in 20 states to cut carbon emissions, saying the investment would support well-paying union jobs and boost US…
Global steel production increased by 3.7% y/y in February
Steel production in the 71st country for the month amounted to 148.8 million tons
Global rebar prices have fallen sharply since early March
Weak steel demand combined with falling commodity prices weigh on the market
Structural Steel Market to Reach $121.83 Million by 2030
Structural Steel Market to Reach $121.83 Million by 2030 Owing To the Rapid Increase in Demand for Infrastructure Development: Coherent Market Insights (CMI)
Prices for hot-rolled steel fell to $800 per short ton in the US
At the end of 2023, HRC prices in the country peaked at about $1,100/t
China Steel to keep prices unchanged
China Steel Corp yesterday announced that it would keep domestic steel prices unchanged for deliveries next month to comply with changes in international markets and customer needs.
Shortfalls in Scrap Will Challenge the Steel Industry
The global supply of carbon steel scrap is in a losing battle against demand growth. This crisis has been in the making for many years, and the pattern will continue unabated.
Biden opposes plan to sell US Steel to a Japanese firm, citing the need for 'American steel workers'
President Joe Biden is opposing the planned sale of U_S_ Steel to Nippon Steel of Japan, saying the U_S_ needs "strong American steel companies powered by American steel workers.”
Steel Imports Up In 2024 vs. December 2023
Based on preliminary Census Bureau data, the American Iron and Steel Institute (AISI) reported today that the U.S. imported a total of 2,547,000 net tons (NT) of steel in January 2024
January Steel Shipments Up 4.3 Percent From Prior Month
The American Iron and Steel Institute (AISI) reported today that for the month of January 2024, U.S. steel mills shipped 7,384,454 net tons, a 4.3 percent increase from the 7,082,921 net tons shipped in the…
This Week’s Raw Steel Production
In the week ending on March 9, 2024, domestic raw steel production was 1,734,000 net tons while the capability utilization rate was 78.1 percent. Production was 1,718,000 net tons in the week ending March 9,…