Steel News & Market Reports
Steel market updates, daily price reports, industry events and more.
The US steel industry is going through a rough patch. How did it get there?
President Biden has come out against the purchase of U.S. Steel by Japan’s Nippon Steel, saying it’s vital to maintain domestic ownership for one of America’s largest steel manufacturers.
Nippon Steel emphasises its 'deep roots' in the US as it pursues U.S. Steel deal
Nippon Steel (5401.T), opens new tab intends to pursue its proposed acquisition of U.S. Steel (X.N), opens new tab and wants its "deep roots" in the United States to be recognised, its new president said…
Cleveland-Cliffs raises rolled steel prices for the second time in March
American steelmaker Cleveland-Cliffs announces an increase in minimum base prices for hot-rolled, cold-rolled and coated steel by $60 per short ton. This is stated in the company’s press release.Trading activity in the European ferroalloy market remains slow
Trading activity in the European high carbon ferrochrome (HC FeCr) market remained slow last week, according to Metalshub Intelligence Service (Metis), as the market put pressure on prices.US reduced steel imports by 3.2% m/m in February
In February 2024, US steelmakers reduced steel imports (rolled and semi-finished products) by 3.2% compared to January this year, to 2.47 million tons. This is according to the American Iron and Steel Institute (AISI).
Global prices for hot-rolled sheets decline amid falling raw material prices
Global hot-rolled steel prices are adjusting after a sharp rise in late 2023 and early 2024. The slowdown in demand for products has kept the downward price trend in major global markets for about 2…America's 1st 'green steel' plant coming to Perry County in $1B federal investment
A new “green steel” plant will soon put Perry County on the map for clean energy manufacturing and create hundreds of new jobs.
Cleveland-Cliffs to get $575M to decarbonize Middletown steel mill
Cleveland-Cliffs will get up to $575 million to slash emissions at its Middletown steel mill, as part of a broader plan by the Biden administration to decarbonize industrial plants around the U.S.Vista Metals to Construct Facility in Kentucky
Vista Metals will construct a new facility in Bowling Green, Ky., to supply specialty aluminum products to the aerospace industry. With nearly a $60 million initial investment, the new site will primarily support downstream processing…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 tonsGlobal rebar prices have fallen sharply since early March
Weak steel demand combined with falling commodity prices weigh on the marketStructural 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/tChina 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.”