Steel News & Market Reports
Steel market updates, daily price reports, industry events and more.
Fitch raises its iron ore price forecast for 2026 to $100 per tonne
The international credit rating agency Fitch Ratings has revised its short-term forecasts for mining commodity prices upwards. The short-term forecast for iron ore prices in 2026 has been raised to $100/t (the previous estimate was…
Thyssenkrupp has completed the sale of its remaining shares in AST to the Arvedi Group
German steelmaker Thyssenkrupp has announced the completion of the sale of the remainder of its 15 per cent stake in Acciai Speciali Terni (AST) to the Arvedi Group. This is stated in a company press…
Shagang holds list prices for steel longs for mid-June sales
Shagang Group (Shagang), China's leading privately-owned steel firm and the country's largest electric-arc-furnace steelmaker, has decided to roll over its long-product list prices for sales for the June 11-20 period from the early June sales…Iron ore remains unaffected by Iran war, but China's May data baffles
Iron ore is the one major commodity that is sailing unaffected through the storm created by the U.S.-Israeli war on Iran, but the relative calm masks shifting dynamics for ?the key steel raw material.China's steel exports fall 8% YoY to 45 million tonnes in Jan-May
China's exports of finished steel over January-May totaled 44.55 million tonnes, lower by 8.1% from the first five months of last year, according to the latest statistics from the country's General Administration of Customs (GACC)…
China's billet prices to trend downwards in June
Prices of carbon steel billets in China are expected to ease slightly this month, mainly under pressure from subdued demand in the summer lull and fading cost support from raw materials prices, according to Mysteel's…Nucor has raised the price of hot-rolled coils to $1,115 per tonne
The US steel producer Nucor has once again raised its spot price (CSP) for hot-rolled coil by $10 per short tonne compared to the previous week. This is stated in the company’s letter to customers…U.S. Steel pledges up to $2.5 billion in upgrades to Mon Valley Works
U.S. Steel plans to invest up to $2.5 billion into upgrades to its Mon Valley Works, which it forecasts will generate $1.7 billion for the state, according to a Monday report from the steelmaking giant.China's steel prices face downward pressure in June
After rising steadily for nearly a month, Chinese steel prices began heading south in mid-May and are expected to remain under downward pressure in June, weighed by a mismatch between domestic steel supply and demand,…Baosteel raises tinplate list prices for July sales
Baoshan Iron & Steel Co (Baosteel), the listed arm of the world’s top steelmaker China Baowu Steel Group, is raising its list prices for electrolytic tinplate (ETP) by Yuan 220/tonne ($32.5/t) for domestic sales in…Trump’s tariffs have significantly reduced steel exports from the EU to the US – EUROFER
Since the US raised steel tariffs to 50%, exports of steel products from the EU to the US have fallen by a third. This is according to a report by the European Steel Association (EUROFER).Excess steel production capacity continues to weigh on global markets – OECD
By 2026, global excess steel production capacity will reach 745 million tons. This is according to a new report by the Organization for Economic Cooperation and Development (OECD) – OECD Steel Outlook 2026.Billet prices rose by $10–20 per ton in regional markets in May
In most regional billet markets, prices rose slightly in May—by $10–20 per ton. The Gulf countries were an exception, where the war in the region created a unique market situation: prices fell from $518/t to…Nucor has raised the price of hot-rolled coil to $1,105 per ton
U.S. steel producer Nucor has once again raised its spot price (CSP) for hot-rolled coil by $10 per short ton compared to the previous week. This was announced in a letter the company sent to…Indian steelmakers grapple with resurgence of cheap Chinese imports
China's finished steel exports to India more than doubled in April to ?the highest in at least two years, sparking worries among the latter's steelmakers that despite the imposition of import tariffs they will be…U.S. Steel imports increase month over month in April
The American Iron and Steel Institute (AISI) has reported that the U.S. imported 1.87 million net tons (NT) of steel in April 2026, including 1.38 million NT of finished steel, based on preliminary Census Bureau…Rio Tinto commissions $1.5 billion low-carbon smelter expansion in Quebec
Rio Tinto said on Friday it has started commissioning its $1.5 ?billion low-carbon aluminium smelter expansion in the Canadian ?province of Quebec.EU import cuts threaten Ukraine's battered steel sector, Interpipe CEO says
The European Union's plan to slash steel ?imports will hit Ukraine's war-battered industry and goes against an exemption by the bloc as ?the country fights Russia's invasion, the CEO of Interpipe, one of Ukraine's biggest…
Global scrap prices rose by 1–3% in May
Global prices for ferrous scrap rose by 1–3% in most markets in May 2026. Only prices for imported scrap in China declined.