Steel News & Market Reports
Steel market updates, daily price reports, industry events and more.
India to impose up to 30% tariffs on some steel imports from China, Vietnam
India will impose tariffs of between 12% and 30% on some steel products imported from China and Vietnam in a bid to safeguard and boost local industry, an Indian finance ministry order showed.
Fitch Solutions downgrades global steel price forecast for 2024
The average global steel prices this year will be at the level of $660/t The BMI Country Risk and Industry Research division of the international credit rating agency Fitch Solutions has revised its forecast for…
China August iron ore imports slide on steel rout, soft demand outlook
China's iron ore imports in August fell 1.38% from July and slipped 4.73% from a year earlier, customs data showed on Tuesday, as falling steel prices and a gloomy demand outlook dampened buyers' appetite.
China's HRC output recovers, prices hit 8-yr low
Production of hot-rolled coils (HRC) among the 37 Chinese flat steel producers Mysteel regularly monitors recovered to 3.1 million tonnes during the week of September 2-6, up by 54,300 tonnes or 1.78% on week, the…
EU scrap market balance
The EU steel industry has a huge unrealized potential to increase scrap consumption to meet the goals of reducing carbon emissions and developing a circular economy
Cleveland-Cliffs reiterates offer to buy mills U.S. Steel is threatening to close
Cleveland-Cliffs is reiterating its interest in buying unionized mills that U.S. Steel is threatening to close should its takeover by Japan's Nippon Steel get blocked by President Joe Biden.
Global steel, raw material prices slide m-o-m in Aug. Short term looks dull
Global steel and raw material prices declined m-o-m in August 2024, reveals BigMint data. Some sharp swings were detected, especially in coking coal and iron ore. The China factor is keeping hot rolled coil prices…
India: HRC-rebar spread rises after four-month gap in Aug'24, but prices still under pressure
The HRC-rebar spread reversed to normalise in August, 2024, after a gap of four months, reveals BigMint data. Usually, hot rolled coils (HRCs) are sold at a premium to rebars. However, it may be recalled,…
Global scrap consumption decreased by 1.5% y/y in H1 2024
Global consumption of ferrous scrap in the first half of this year, according to BigMint, decreased by 1.5% year-on-year – to 325 million tonnes.
US fears Nippon bid for U.S. Steel could hit vital steel supplies
Nippon Steel's proposed $14.9 billion takeover of U.S. Steel would create national security risks because it could hurt the supply of steel needed for critical transportation, construction and agriculture projects, the U.S. said in a…
Ferrochrome prices remain stable – Stainless Espresso
Asian ferrochrome prices, which are relevant for stainless steel production among other things, have been extremely stable for some time, despite occasional volatility for several months. And is this report too politically explosive? After a…
Iron ore price sinks as steel group warns of ‘flash in a pan’ recovery
Iron ore slumped to its lowest level since 2022 and traded near $90 a ton as China’s main steel industry group advised mills to be cautious in boosting output too quickly to avoid snuffing out…
China's steel prices may rebound further in September
With China's steel market entering the traditional peak season in autumn, the country's steel prices in September are expected to continue the rising trajectory they've been following since late August, Mysteel's Chief analyst Wang Jianhua…
US Steel core management, majority of board members will be US citizens, Nippon Steel says
Japan's biggest steelmaker Nippon Steel (5401.T), opens new tab, which is seeking to acquire U.S. Steel (X.N), opens new tab, said on Wednesday if its purchase goes ahead core senior management as well as a…
Steel industry leaders in US have high hopes for revival in 2025
American steel executives say they are optimistic that demand for the industrial material will rebound next year, recovering from the lacklustre demand and low prices that have hobbled the industry in 2024.
Price trend for stainless steel in Europe for September 2024
A look at the current price trend for stainless steel in Europe and how nickel and stainless steel scrap are influencing it. And in the UK, domestic companies in particular are benefiting from the current…
Harris to oppose sale of U.S. Steel to a Japanese firm during Pittsburgh event
Vice President Kamala Harris plans to use Monday's joint campaign appearance with President Biden in the industrial city of Pittsburgh to say that U.S. Steel should remain domestically owned — coinciding with the White House's…
US Stainless-Steel CR Coil Prices Stable; Minor Declines in Germany and China Amid Economic Challenges
The prices of Stainless-Steel CR Coil stayed stable as of August 23rd, with the US domestic market. Additionally, Germany saw a minor price reduction in Stainless-Steel CR Coil, with concerns about European business challenges.
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 from China, the world's biggest steel producer, to protect the Japanese market, Nippon Steel Vice Chairman Takahiro Mori said…