Steel News & Market Reports
Steel market updates, daily price reports, industry events and more.
India's iron ore production rises by around 2% y-o-y in CY'24 - BigMint data
Iron ore production in India is projected to have increased by around 2% y-o-y to reach 284 million tonnes (mnt) in calendar year 2024 (CY'24), as per provisional data available with BigMint. Iron ore production…Global steel, raw material prices dip in Jan'25. Will bearish trends prevail in Feb?
Global steel and raw material prices declined by up to 4% m-o-m in January 2025 (till 23 January), as markets worldwide were down in the dumps, challenged by subdued demand and sluggish trade activity amid…
Turkey boosts slab imports by 50% in 2024, Russia, Malaysia lead
Turkey increased its slab imports by 50% year-on-year, to 4,089,960 tonnes in 2024 from 2,718,018t in 2023, according to Turkish Statistical Institute (TUIK) data.Global ship-breaking tonnage drops 20% y-o-y in CY'24. Will the tide turn in CY'25?
The global ship-breaking industry faced significant challenges in calendar year 2024 (CY'24), with total recycling tonnage dropping by 19% y-o-y. According to BigMint data, the industry processed 1.83 million light displacement tonnage (LDT) compared to…
US Steel reduced steel shipments by 8.4% y/y in 2025
US Steel Corporation, one of the largest steel producers in the United States, reduced steel shipments by 8.4% in 2024 compared to 2023, to 14.2 million short tons. This is stated in the company’s report.Belgium increased steel production by 21.1% y/y in 2024
Belgian steelmakers produced 7.1 million tons in 2024, up 21.1% from 2023. Thus, the country ranked 24th in the global ranking of steel producing countries (71), while in 2023 it was 25th, according to World…
Glencore’s steelmaking coal output up 165% y/y on the back of Elk Valley acquisition
Despite reporting lower production from own sources for most of the commodities it mines for the 2024 financial year, diversified miner Glencore CEO Gary Nagle says output was in line with guidance.Nucor raises HRC benchmark price to $760/t
US steelmaker Nucor has announced a new hot rolled coil (HRC) benchmark price of $760/mt for all production sites except CSI, where the price will be $820/mt. The new price came into effect on January…
Coking coal price to reach $220/t in 2025 – BMI
According to BMI, the slowdown in steel production growth in importing countries, with the exception of India, will continue to limit demand for coking coal and hence its prices in the short term.US Steel now all about striking while iron is hot
The long United States Steel saga has suddenly become a matter of urgency. Boss David Burritt is fighting to salvage a $15 billion sale to Nippon Steel .
Trump plans to impose broad tariffs on steel and other imported goods
US President Donald Trump has said he wants to impose large-scale tariffs on steel, aluminum and copper imported into the country, as well as other goods, including computer chips, semiconductors and pharmaceuticals. This was reported…UK steel industry needs to reduce electricity costs – UK Steel
UK steelmakers have to fight for competitiveness due to high electricity costs. This problem should be the first challenge for the Steel Industry Council, according to the UK Steel industry association.France increased steel production by 7.6% y/y in 2024
In 2024, French steelmakers increased steel production by 7.6% compared to 2023, to 10.76 million tons. The figure recovered after a significant drop of 17.5% in 2023. Thus, the country ranked 17th in the global…Tata Steel reports surprise profit on buoyant India sales volume
Tata Steel India's second-biggest steelmaker by market value, posted a surprise third-quarter profit on Monday, helped by buoyant sales at home even as prices fell.Canada, Mexico steelmakers refuse new US orders
Some steelmakers in Canada and Mexico are telling customers that they are refusing new orders to the US on concerns that President Donald Trump soon will reimpose duties.AISI outlines priorities for the US steel industry for 2025
The American Iron and Steel Institute (AISI) has addressed policymakers in the Trump administration and key members of Congress with a plan that outlines the steel industry’s priorities for 2025 from the perspective of the…China's 2024 crude stainless output grows by 8% on year
China's total output of crude stainless steel continued to move up in 2024, with the total tonnage rising by another 2.77 million tonnes or 7.5% on year to touch a new high of 39.44 million…Japan’s annual steel production declines 3.4%
Japan’s crude steel production inched up month-on-month in December, but annual production remained lower than a year ago in 2024, Kallanish learns from data by the Japan Iron & Steel Federation (JISF).Turkish scrap market questions higher values
Following the deals reported on Tuesday at $336/tonne from the US and around $330/t cfr from the EU, Kallanish heard of another US deal at $340/t cfr ?skenderun, although this remained unconfirmed at the time…