Steel News & Market Reports
Steel market updates, daily price reports, industry events and more.
Nippon Steel committed to U.S. Steel takeover, aims to close in Dec, says executive
Japan's Nippon Steel is committed to its $15 billion acquisition of U.S. Steel and is confident of completing it by year-end, a senior executive said, despite strong U.S. opposition including from President-elect Donald Trump.
Cleveland-Cliffs opens January booking for hot-rolled coils at $750/t
The US hot-rolled coil market is characterized by stable price levels from leading producers. Cleveland-Cliffs announced the opening of January booking for hot-rolled coils at $750/t, which is in line with the price level in…
EU to consider extending restrictions on steel imports – Sejourne
The European Commission (EC) will consider extending measures to restrict steel imports as part of an overall plan to protect the sector during its decarbonization process. This was stated by the Executive Vice President of…
Coking coal prices remained stable in November
November 2024 was a month of stability for the global coking coal market with little price fluctuation. In Australia (FOB Australia), premium coking coal held the level of $203/t.
Turkey’s steel industry plans to increase utilization to 70% in 2025
Amid job cuts in Germany, Turkey remains optimistic about steel industry developmentUS steelmakers propose a plan to strengthen the manufacturing sector
The proposed measures include, in particular, increased tariffs to support domestic productionSteel consumption in Turkey decreased by 1.8% y/y in January-October
Exports of steel products grew by 30.7% y/y over 10 months, while imports fell by 7.2% y/?Norway forced to pause Arctic seabed mining plans
Norway has paused its controversial plans to mine the seabed in Arctic-reaching territorial waters after the Socialist Left Party (SV), a small left-wing environmentalist group, secured an agreement to delay the initiative in exchange for…Consumer activity in the hot-rolled coil market declined in November
In November 2024, the global hot-rolled coil market was marked by uncertainty. Despite a slight increase in prices in some regions, low demand and economic instability restrained activity.Falling steel prices are a major problem – Tata Steel CEO
Falling steel prices and Chinese imports to India are currently more worrisome than demand for steel products in the country. Tata Steel’s Chief Executive Officer and Managing Director T. V. Narendran told about it in…Low steel prices may hinder capacity expansion in India
Without adequate domestic capacity, the country will be dependent on imports for infrastructure developmentRebar market saw a drop in prices and volatility in demand in November
Offer prices are declining in China, Turkey and Europe, while the US is showing signs of stabilizationThe US increased rolled steel imports by 8.6% m/m in October
In October 2024, US steel enterprises increased imports of rolled steel products by 8.6% compared to September this year, to 1.84 million tons. This is evidenced by data from the American Iron and Steel Institute…Canadian steelmakers call on the government to engage in urgent dialogue with the Trump team
The appeal comes amid Trump's promise to impose additional tariffs on imports from Canada, Mexico and China
Scrap prices declined in November in most key markets
The global scrap market showed a decline in prices in most key regions during November 1-25, 2024. In Turkey, supply fell to its lowest level in 2 years, while in the US it fell by…Tangshan billet prices rise $7/t on week
By November 24, the price of Q235 150mm square billet in Tangshan in North China's Hebei province, the country's largest steel production hub, had recovered by Yuan 50/tonne ($6.9/t) on week to reach Yuan 3,090/t…China's HRC output edges up on week
Production of hot-rolled coils (HRC) among the 37 Chinese flat steel producers Mysteel regularly monitors totalled 3.19 million tonnes over November 14-20, ticking up by a small 33,400 tonnes or 1.08% on week, the results…Thyssenkrupp to cut 11,000 jobs at steel division in major corporate shakeup
Thyssenkrupp Steel Europe (TKSE) plans to reduce its workforce by 11,000 people or roughly 40%, the company said on Monday, the latest major restructuring to be announced by a German industrial giant.Iron ore prices increased by 4.2% over the past week
Optimism about support for China's economy drives demand, despite risks associated with the real estate market and high inventories