Steel News & Market Reports
Steel market updates, daily price reports, industry events and more.
Citi updates its 2024 outlook for steel prices
Analysts at Citi Research have updated its outlook for steel prices in 2024, reflecting a nuanced view of both short-term and mid-term dynamics in the steel market.
Autos, Hurricane Beryl weigh on US manufacturing output in July
Production at U.S. factories fell in July amid a decline in motor vehicle output and disruptions from Hurricane Beryl.
India launches anti-dumping probe into some steel imports from Vietnam
India has initiated an anti-dumping investigation on certain steel products imported from Vietnam, according to a notification from Ministry of Commerce and Industry.
Iron Ore Hits Lowest Since 2022 as Steel Crisis Rattles Market
Iron ore hit the lowest level since 2022 on concern that global supply is running ahead of demand, with China’s steelmakers mired in a crisis and cutting output just as major miners boost exports.
China Steel announces price cut in response to China’s excessive exports
Countries including Vietnam, Thailand and Turkey have recently responded with trade measures to China’s low-priced steel exports
World’s Top Steel Producer Warns of ‘Severe’ Industry Crisis
The world’s biggest steel producer sounded the alarm about an industry crisis in China that carries the potential to ripple around the globe and plunge the sector into a deeper downturn.
United States June 2024 Steel Shipments Down 3.8 Percent From Prior Month
Down 3.9 Percent YTD in 2024 from Same Period in 2023. he American Iron and Steel Institute (AISI) reported today that for the month of June 2024, U.S. steel mills shipped 7,152,135 net tons, a…
United States Finished Steel Import Market Share Estimated at 22 Percent in July
Based on the Commerce Department’s most recent Steel Import Monitoring and Analysis (SIMA) data, the American Iron and Steel Institute (AISI) reported today that steel import permit applications for the month of July totaled 2,289,000…
Chinese steelmakers reduce September prices for flat rolled products
China’s largest flat producers (Baosteel, Angang and Bengang) have reduced flat offer levels for September sales, which are expected to be challenging.
Indian steelmakers' body seeks export tariff on low-grade iron ore, pellets
India's leading steelmakers' body wants the government to impose an export tax on low-grade iron ore and pellets to address local shortages, according to a letter by the Indian Steel Association (ISA), which was seen…
Iron ore outlook dims as China inventories, steel output fade
The price of iron ore has dropped for a sixth consecutive week as China's steel sector continues to struggle and port inventories of the raw material stop rising.
Turkey imposes provisional anti-dumping duties on HRC from 4 countries
The restrictions will apply to hot-rolled products produced in China, India, Japan and the Russian Federation
Canadian steelmakers demand urgent action against Chinese dumping
Canadian steel and aluminum producers point out that the United States and Mexico have already taken appropriate measures
Prices for flat products in the US rise for the first time since April
HRC prices are currently in the range of $640-670 per short ton
Indian steel prices hit more than three-year lows, consultant BigMint says
Steel prices in India have plunged to the lowest level in more than three years due to higher imports and subdued exports, according to data from commodities consultancy BigMint.
Nucor raises HRC prices for the second week in a row
US steelmaker Nucor has announced an increase in the weekly spot price for hot-rolled coils by $15 per tonne compared to the previous week, up to $690 per short tonne.
Iron ore prices recover from late July downturn
During the past week, raw material quotations increased by 2-3%. September futures for iron ore, the most traded on the Dalian Commodity Exchange, for the period July 26 – August 2, 2024 increased by 2.6%…
Pig iron prices in Black Sea ports fell by 3.7% in July
Pig iron prices in Black Sea ports for the period from July 5 to August 2, 2024, decreased by 3.7% – to $395-405/t FOB. In July, raw material prices were mostly stable, and the main…
Drop in prices for hot-rolled coils continued in July
World prices for hot-rolled coil (HRC) continued to decline in most major markets during July. In Europe, the situation was mostly stable, with slight fluctuations, and in the US and China there was a decline…