Steel News & Market Reports
Steel market updates, daily price reports, industry events and more.
Iran halts exports of certain steel products
Iran has suspended exports of certain steel products, including billets, slabs and different kinds of sheets until at least the end of May, China’s Xinhua News Agency reported on April 27, citing a statement made…
Mexico to require federal projects to use local steel in response to US tariffs
Mexico's President Claudia Sheinbaum on Wednesday announced a rule that all federal work projects use steel from ?Mexican companies, after attempts to reach a deal to lift ?U.S. steel tariffs failed.
Iron ore prices rose by 2.8% in April
The average price of iron ore (KORE 62% Fe/Qingdao) rose by 2.8% in April compared to March, reaching $109.34/t CFR. As of April 24, prices stood at $110.21/t CFR, up 1.2% from the previous week.India turns net exporter of finished steel in 2025/26, data shows
India turned a net exporter of ?finished steel in the financial ?year that ended on March 31, provisional government data reviewed by Reuters ?showed on Tuesday.Iran suspends exports of steel slabs and sheets until end of May
Iran has banned the export of steel slabs and sheets until May 30, state media reported on Monday without further details, as the country's steel industry has been targeted in strikes during the conflict with…
Critical Metals agrees to buy European Lithium for about $835 million
U.S.-based miner Critical Metals has signed a letter of intent to purchase ?all outstanding shares of European Lithium in an about $835 ?million deal, a move that would secure its full ownership of Greenland's Tanbreez…US, EU deepen cooperation on critical minerals with eye to broader agreement
The U.S. and the European Union on Friday deepened their coordination on critical minerals as part of a broader push by Western allies to loosen China's grip on materials crucial to advanced manufacturing.Japan's FY25 crude steel output hits near 60-year low
Unfortunately for Japan's Ministry of Economy, Trade and Industry (METI), its prediction for crude steel production last December has proven grimly accurate, with early industry data showing the country recorded its lowest crude steel output…
China's steel prices stay rangebound, raw material costs in focus
China's domestic steel prices continue to fluctuate within a narrow range, as demand has yet to see any significant recovery, according to the latest monthly report of the China Iron & Steel Association (CISA), warning…European carbon prices have reached €74–76 per ton since the second half of April
Futures prices for CO2 emission allowances (EUAs, December 2026 contract) have ranged between €74 and €76 per ton since the second half of April.Global steel production fell by 4.2% y/y in March
Global steel production in March 2026 fell by 4.2% year-over-year and rose by 12.8% month-over-month, reaching 159.9 million tons. This is according to the World Steel Association’s global ranking of steel-producing countries (69).
Rio Tinto increased its iron ore production by 12% in Q1
In the first quarter of 2026, mining company Rio Tinto increased its total iron ore production by 12% year-on-year – to 82.8 million metric tons, according to a report. Production in the Pilbara region (Australia)…Global steel producers are maintaining high HRC prices
Tokyo Steel, a leading Japanese electric arc furnace steel producer, raised prices for May HRC (1.7–22 mm) sales by 5,000 yen/ton ($31/ton) compared to the previous month, according to BigMint.Chinese mills' steel stocks down for 5th week
Inventories of the five major carbon steel products held by the Chinese steel mills sampled in Mysteel's regular survey declined over April 10-16 to 4.71 million tonnes, slipping for the fifth consecutive week by 1.8%…Mexico eyes early trade deal on steel, aluminum, autos ahead of USMCA
Mexico's President Claudia Sheinbaum said on ?Monday that Mexico is interested in reaching an ?agreement, prior to completing the review of the U.S.-Mexico-Canada trade pact, regarding the exchange of steel, aluminum ?and automobiles.China is stepping up efforts to stabilize the steel market
The imbalance between ample supply and weak demand for steel continues to grow
Nippon Steel has begun the transition to EAF at its Kyushu Works facility
Japanese steelmaker Nippon Steel has begun transitioning from blast furnace production to electric arc furnace (EAF) production at its Kyushu Works facility, marking a significant step in its decarbonization strategy. This was reported by Japan…Prices on regional slab markets rose by $15–20 per ton in the first half of April
In all regional slab markets, prices continued to rise in the first half of April, increasing by $15–20 per ton. The highest price was recorded in Brazil at $605/t (FOB).Steel production in China fell by 4.6% y/y in Q1
Rising costs and weak demand have limited production, and March was the worst month for the industry since 2020