Steel News & Market Reports
Steel market updates, daily price reports, industry events and more.
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
ArcelorMittal says it is delaying planned green investments in EU
ArcelorMittal , the world's second-largest steelmaker, said on Friday it is delaying planned green investments, blaming uncertainties over European Union regulatory directives.Spain's Celsa sells British and Norwegian steel mills to Sev.en GI
Spanish steelmaker Celsa has sold its mills in Britain and Norway to Se.ven GI, the Czech investment fund said on Thursday, confirming an earlier report on news website El Confidencial.
Germany increased steel production by 7.7% m/m in October
In October 2024, German steelmakers increased steel production by 7.7% compared to the previous month to 3.22 million tons. Compared to October 2023, the figure increased by 14.7%. This was reported by the German steel…Global steel production increased by 5.3% m/m in October
World crude steel production for the 71 countries reporting to the World Steel Association (worldsteel) was 151.2 million tonnes (Mt) in October 2024, a 0.4% increase compared to October 2023.Good prospects for the US construction industry in 2025
Analysts see a potentially good year ahead for the US construction industry in 2025. Up to double-digit growth rates in new construction are expected in parts of the United States. Iron ore and nickel prices…North America Steel: Lessons from Trump 1.0, Expectations for Trump 2.0
Steel equities rallied sharply after Trump’s victory as investors anticipate potentially higher tariffs. But here’s a lesson we learned from Trump 1.0 to keep in mind as Trump 2.0 approaches: Buy the headlines on tariffs,…Metal prices slide amid weak industrial activity
Metal and mineral prices fell by 7 percent in 2024Q3 (q/q), before edging up in October. The decline in 2024Q3 was largely attributed to signs of slowing industrial activity in major economiesJan-Oct steel output dips 2.4% YoY at key Chinese steel hubs
Crude steel production among China's top ten steelmaking provinces and autonomous regions totalled 609.57 million tonnes during this year's January-October period, down by 2.39% on year, with seven out of the ten posting on-year declines…
Turkish scrap prices approach 2024 lows
Scrap prices in Turkey are under pressure amid weakening steel prices and a lack of steel demand. Turkish scrap market sentiment was quite negative on Tuesday.BMI forecasts ore prices at $100/t in 2025
The Chinese real estate sector remains a major drag on demand. Overcoming the downturn in this market will require many years of effort, given the scale of unfinished projects and unsold housing stock, BMI notes.
Chinese steel exports are booming but here’s why that won’t last
Steelmakers in the world’s biggest producer are leaning heavily on overseas sales to soak up a surplus caused by the country’s years-long property crisis. But they’re running into dumping accusations from importers and a protectionist…
Swiss Steel to cut 800 jobs amid weak demand
Swiss Steel Group (STLN.S) will cut around 800 jobs in its home market of Switzerland and abroad due to weak demand in European manufacturing, low production levels, and a subdued growth outlook, the steelmaker said…Additional subsidies to steelmakers in a number of countries boost capacity expansion – OECD
This contrasts with the situation in the organization's member states, where subsidies have remained relatively stableThe US will extend the anti-dumping duty on hot-rolled steel from Ukraine
The U.S. Department of Commerce (DOC) has announced the final results of the review of anti-dumping and countervailing duties on certain types of hot-rolled flat carbon steel products from China, India, Indonesia, Taiwan, Thailand and…European steelmakers call for restrictions on scrap exports
European steelmakers are calling on the European Commission to limit scrap exports so that the bloc can achieve its sustainable development goals and maintain industrial competitiveness.
Australia may lose $45 bln amid green steel rush, report says
Top global iron ore exporter Australia could lose as much as half its revenue from the sector if it fails to start producing green iron fast enough, as other countries start making steel using renewable…
Steel Dynamics helping with proposed U.S. 30 improvements in Whitley County
Proposed changes to a busy stretch of U.S. 30 in Whitley County were unveiled Wednesday morning by Indiana Governor Eric Holcomb during a media event at Steel Dynamics east of Columbia City.