Steel News & Market Reports
Steel market updates, daily price reports, industry events and more.
US steelmakers brace for tepid quarterly profit, further price declines
Top U.S. steelmakers are expected to post a decline in second-quarter earnings and could face additional pressure from a further retreat in steel prices heading into a slow summer season, according to analysts.
Global stainless steel production increased by 5.5% y/y in Q1
During the period, stainless steel output increased in most regions except Europe
Cleveland-Cliffs to buy Canadian steelmaker Stelco for $2.8 billion
Cleveland-Cliffs (CLF.N), opens new tab will buy Canadian steelmaker Stelco Holdings (STLC.TO), opens new tab for C$3.85 billion ($2.8 billion), it said on Monday, marking its first acquisition since a failed bid for rival U.S.…
Nippon Steel talks future of Mon Valley and union jobs if it acquires U.S. Steel
The acquisition of U.S. Steel by Japan's largest steelmaker has raised questions about the future of the Mon Valley and local steelworkers.
US, Mexico agree to new rules on Chinese steel, aluminum imports
The United States on Wednesday unveiled stricter rules on steel and aluminum imports in coordination with Mexico as part of an effort to prevent Chinese-made goods from circumventing tariffs.
China’s Baosteel lowers August prices on hot-rolled steel
China’s leading flat-rolled manufacturer Baosteel cut prices on some domestic products for August sales. It is reported by Kallanish.
Biden admin to tax foreign-made steel and aluminum imports routed through Mexico
The Biden administration is imposing tariffs on steel and aluminum shipped from Mexico that were made elsewhere
Global scrap prices stabilized in early July
Scrap prices during the first week of July 2024 rose slightly in most regions or remained stable. Most market participants predict the immutability of prices in the short term, since there are no factors for…
Stainless steel prices rise in Southeast Asia
A major Southeast Asian stainless steel manufacturer has announced price increases. The Japanese economy is on course for growth. And the LME suspends two nickel brands from Finnish producer Norilsk Nickel Harjavalta Oy.
US miners push Washington to revive long-dormant Bureau of Mines
Mining trade groups plan to push Washington to revive and expand the long-dormant Bureau of Mines, an effort aimed at streamlining how the U.S. government regulates and supports critical minerals production and timed to coincide…
Global prices for hot-rolled coils declined in June
The automotive industry and the production of household appliances in the EU have problems with sales of their products
Italian steel plant launches trial to use hydrogen to cut emissions
Italian gas grid operator Snam (SRG.MI), opens new tab, steel pipe maker Tenaris (TENR.MI), opens new tab and green technology firm Tenova are trialling the use of hydrogen fuel at a Tenaris steel plant in…
EU stainless steel prices continue to rise in July 2024
EU stainless steel prices continue to rise in July 2024, driven in particular by scarce availability. And the German Ministry of Defence orders ammunition, trucks and tanks for more than 14 billion euros.
Turkey opens stainless steel anti-dumping case against China and Indonesia
Turkey initiated anti-dumping investigation against cold-rolled stainless steel imports from China and Indonesia on 28 June 2024. And raw material prices in the first half of 2024 have risen in many cases.
Tata Steel workers in UK suspend strike action
Tata Steel workers in Britain have suspended a planned all-out strike and overtime ban after the company agreed to negotiations about future investment, the Unite trade union said on Monday.
Iron ore prices fell by $7-10/t in June
The negative dynamics are related to the weakening of the demand for steel and the increase in port stocks of ore in China
Italian rebar producers plan to raise prices up to €400/t
Italian rebar producers are trying to bring domestic benchmark prices for their products up to €400/t Ex-Works. This is the second time in the last month that the plants have resorted to raising prices. In…
Nucor cuts weekly HC coil prices to lowest since April
American steelmaker Nucor has announced a $35/t decrease in weekly hot rolled coil (HRC) prices – to $680 per short ton. This is reported by BigMint with reference to the company’s data.
JSW Steel USA to invest $110 million to upgrade manufacturing operations in Texas
The upgraded facility will align with Buy America's requirements, providing specialised steel products for hydrocarbon pipelines, offshore wind towers, high-density pressure vessels, and other sophisticated applications.