Steel News & Market Reports
Steel market updates, daily price reports, industry events and more.
ArcelorMittal raises prices for hot-rolled steel in Europe to €630/t
Global steelmaker ArcelorMittal has announced a €20/t price increase for hot rolled steel (HRC), setting a new price of €630/t across Europe. This decision is due to stronger apparent demand in the first quarter of…
Italy reduced steel production by 7.9% m/m in November
Italian steelmakers reduced steel production by 7.9% in November 2024 compared to the previous month, to 1.8 million tons. The figure fell by 4.4% compared to the same period in 2023. This is reported by…
Cleveland-Cliffs raises prices for hot-rolled steel up to $800/t
American steel company, Cleveland-Cliffs, has announced an increase in prices for hot rolled steel (HRC) to $800 per short ton. This is $50 higher than the November level of $750 per ton. The company attributed…China reduced steel production by 4.3% m/m in November
In November 2024, China’s steel companies reduced steel production by 4.3% compared to the previous month and increased by 2.5% compared to November 2023, to 78.4 million tons. It is reported by Reuters.
Iron ore prices to remain under pressure in 2025 – ING
ING International Bank forecasts that iron ore prices will remain under pressure in 2025. These expectations are formed against the backdrop of low steel demand forecasts, strong supplies and elevated port stocks of raw materials.Stuttering Chinese demand, elevated inventories depress ore: ING
Downside risks to iron ore pricing are likely to prevail in 2025 after the raw material has been the worst-performing industrial metal this year, with prices down 20% year to date, says ING.ArcelorMittal suspends wire rod production in Gijon due to market downturn
Global steel company ArcelorMittal is suspending wire rod production at its plant in Verinha (Gijon), Spain, until January 7, 2025. According to representatives of the company and the trade union, the decision is due to…President Biden reportedly set to block sale of Pittsburgh's U.S. Steel to Japan-based Nippon Steel
As of Wednesday morning, a U.S. National Security Panel is reviewing the proposed $15 billion deal and the panel has to refer its decision on the merger to President Biden by Dec. 22 or 23.Baosteel to maintain current flat steel prices for January sales
Chinese steelmaker Baosteel will maintain current prices for hot rolled coil (HRC) for the domestic market for sales in January 2025.
Fitch raises ore price forecast for 2024 to $110/t
In its December review, the international rating agency Fitch Ratings raised its iron ore price forecast for 2024 to $110/t and left its expectations for coking coal unchanged. This is stated in the agency’s report.Japanese takeover could spell long-term decline of U.S. Steel, union chief says
The head of a powerful labour union opposing U.S. Steel's (X.N), opens new tab sale to Japan's Nippon Steel (5401.T), opens new tab said he has not received assurances that the would-be owners are committed…China Nov iron ore imports drop on expectation of weak seasonal demand
China's iron ore imports in November fell 1.91% from October, customs data showed on Tuesday, as shipments slowed ahead of the slow season for steel demand when colder weather disrupts construction work in the country's…India's steel expansion could hinder net zero emission goal, GEM says
India's plans to ramp up coal-powered steelmaking capacity could impede the country's goal of net-zero carbon emissions by 2070, Global Energy Monitor (GEM) said in a report on Tuesday.How European steel industry can survive the perfect storm
This year steel exports from China may increase by 22-24 million tons – to 117-119 million tons. This creates colossal pressure on prices. The price of hot-rolled coil in the EU for 11 months of…Ukraine steel output jumps, but possible coking coal loss clouds outlook
Ukraine has increased its steel production so far in 2024 by 23.1% to 7 million metric tons, data from the country's steel producers union showed on Monday, but the possible loss of a key coking…Canada expects $71 million in annual revenue from tariffs on Chinese steel and aluminum
The new tariffs should compensate for the losses from cheap Chinese imports, promoting the development of local producersIndian steel industry leads the world in CO2 emissions
India’s steel industry remains the world’s dirtiest in terms of CO2 emissions. According to a 2022 study by the European Commission, steel production in the country generates about 2.6 tons of CO2 per ton of…
US tariffs will affect regional steel trade – Ternium CEO
Mexico needs coordinated action to ensure a balanced steel market. This will allow it to maintain its position as an industrial leader in Latin America. This opinion was expressed at a meeting of the Caintra…Rio Tinto expects ore production to grow by 15 million tons in 2023-2025
In addition to increasing its production performance, the company is actively promoting its decarbonization strategy