Steel News & Market Reports
Steel market updates, daily price reports, industry events and more.
Nippon Steel, peers urge Tokyo to curb steel imports from China, executive says
Nippon Steel (5401.T) and other Japanese steelmakers are urging Tokyo to consider curbing cheap steel imports coming from China, the world's biggest steel producer, to protect the local market, Vice Chairman Takahiro Mori said in…
US Steel Imports Up 12.5% In July vs. June
Based on preliminary Census Bureau data, the American Iron and Steel Institute (AISI) reported today that the U.S. imported a total of 2,421,000 net tons (NT) of steel in July 2024, including 2,017,000 net tons…
India set to hold more talks over import curbs on steelmaking raw material
India will hold wider consultations with steel companies before imposing curbs on imports of low ash metallurgical coke, used in steelmaking, a source with direct knowledge of the matter told Reuters.
Asian steel prices will have limited support in Q3 – S&P Global
In Q3 2024, Asian steel markets will receive limited support due to weak seasonal demand, as well as the persistence of negative forecasts for the real estate and construction sectors in various markets. This is…
Scrap prices expected to rebound in short term, long-term market still uncertain
This week, China's steel mills continued production cuts, leading to lower rebar output and inventory depletion. While the supply-demand balance is gradually improving, high inventories of steel billets and flat-rolled products persist, creating pressure on…
Why Nippon Steel’s $15 Billion Takeover of U.S. Steel Is in Peril
The proposed merger of Japanese and American industrial giants, which proponents say would benefit both countries, is ensnared by political and labor opposition.
Iran’s steel output up 2.5% in 7 months on year: WSA
The latest report by the World Steel Association (WSA) indicates that Iran’s steel output rose by 2.5 percent in the first seven months of 2023 as compared to the same period in the previous year…
Sudden Drop in Global Steel Output
China’s steelmakers reported a -9.0% year/year tonnage decrease amid new dumping charges and reports of more regulations to address overproduction.
China increased steel exports by 21.8% y/y in January-July
In January-July 2024, China’s steel companies increased steel exports by 21.8% compared to the same period in 2023 – up to 61.23 million tons. This was reported by the China Steel Manufacturers Association (CISA).
Türkiye’s crude steel output increases 4 percent in July
Türkiye produced 3.1 million tons of crude steel last month, marking a 4 percent increase compared with July 2023, according to data from the World Steel Association.
China Puts Brakes on New Steel Mills With Industry in Crisis
China has abruptly suspended its system for approving new steel plants, as the government responds to a deep demand slump that’s crushed industry profits and fueled a surge of exports.
Steel prices have fallen, but green steel at a premium: BofA
The European steel industry faces a unique situation. Traditional steel prices have declined due to market pressures, while "green steel" produced through environmentally friendly methods commands a premium.
Only 5% of Chinese steel producers are currently profitable
The Chinese steel industry is going through a “winter”, according to the head of the world’s largest steel producer, with analysts warning the sector – vital for capesize owners – faces prolonged decline.
The world’s largest steel industry is going through a ‘winter’ amid a supply glut and weak demand
China steel rebar prices are down over 20% year to date at 3,208 Chinese yuan ($450) per ton, data from financial information provider Wind showed.
India remains net steel importer in April-July as Chinese shipments rise
India continued to be a net importer of steel during the first four months of the current fiscal year beginning April, with China as its biggest supplier of the alloy, according to provisional government data…
US' steel slab imports drop in Jun m-o-m, y-o-y
According to the United States Department of Commerce (USDOC), the US imported roughly 319,000 tons of steel slabs in June, dropping by 35.5% from the previous month and 50% yearly.
Hot-rolled steel price in Turkey market slightly rises
Due to improved demand in the local Turkish market, during the last week, the domestic and import prices of flat products in the Turkish market went up. As the hot-rolled market of Turkey turned to…
Outlook darkens for China's already weak steel output
China's steel output slumped in July and is likely to continue to fall in coming months as mills struggle for profits amid sluggish demand and look to comply with government guidance that ensures annual production…
Roll Forming Corporation to expand Jeffersonville activity
Steel processing company voestalpine Roll Forming Corporation (RFC) will expand its operations at Ports of Indiana-Jeffersonville.