Steel News & Market Reports
Steel market updates, daily price reports, industry events and more.
India sets six-month import cap on key steelmaking ingredient met coke
India will impose restrictions on the import of low-ash metallurgical coke, a key steelmaking ingredient, for six months starting January 1, 2025, a government order said on Thursday.
Nippon extends the closing date to acquire U.S. Steel as Biden decides its fate
The president has about a dozen days to either approve or reject the controversial deal
Iron ore and scrap prices in 2025: in search of parity
Amid weakness of the economies of Turkey and the EU, the state of the market will increasingly depend on the actions of ChinaIron ore prices fell by 4-4.5% in December
Iron ore prices experienced a significant decline during the period of December 1-23, 2024. January futures on the Dalian Commodity Exchange fell by 4.5% to $105.38/t, and by 4% – to $100.55/t on the Singapore…US graphite producers call for 920% tariffs on Chinese imports
US graphite producers have called on Washington to impose tariffs of 920% on imports of the material from China.Rebar market sentiment weakens in Singapore, Hong Kong
Market sentiment for rebar in Singapore and Hong Kong weakened this week in tandem with the falling steel futures in China.India launches probe to determine 'safeguard duty' on steel as imports surge
India has launched an investigation to consider if it should impose a safeguard duty or a temporary tax to curtail unbridled steel imports, according to a government notice on Friday.US Steel predicts a decline in profits in Q4
US steelmaker US Steel has warned that its profit in the fourth quarter of this year will be lower than previously forecast in the fall. This is stated in the company’s message.
ArcelorMittal raises prices for hot-rolled steel in Europe to €630/t
Global steelmaker ArcelorMittal has announced a €20/t price increase for hot rolled steel (HRC), setting a new price of €630/t across Europe. This decision is due to stronger apparent demand in the first quarter of…
Italy reduced steel production by 7.9% m/m in November
Italian steelmakers reduced steel production by 7.9% in November 2024 compared to the previous month, to 1.8 million tons. The figure fell by 4.4% compared to the same period in 2023. This is reported by…Cleveland-Cliffs raises prices for hot-rolled steel up to $800/t
American steel company, Cleveland-Cliffs, has announced an increase in prices for hot rolled steel (HRC) to $800 per short ton. This is $50 higher than the November level of $750 per ton. The company attributed…China reduced steel production by 4.3% m/m in November
In November 2024, China’s steel companies reduced steel production by 4.3% compared to the previous month and increased by 2.5% compared to November 2023, to 78.4 million tons. It is reported by Reuters.Iron ore prices to remain under pressure in 2025 – ING
ING International Bank forecasts that iron ore prices will remain under pressure in 2025. These expectations are formed against the backdrop of low steel demand forecasts, strong supplies and elevated port stocks of raw materials.Stuttering Chinese demand, elevated inventories depress ore: ING
Downside risks to iron ore pricing are likely to prevail in 2025 after the raw material has been the worst-performing industrial metal this year, with prices down 20% year to date, says ING.ArcelorMittal suspends wire rod production in Gijon due to market downturn
Global steel company ArcelorMittal is suspending wire rod production at its plant in Verinha (Gijon), Spain, until January 7, 2025. According to representatives of the company and the trade union, the decision is due to…President Biden reportedly set to block sale of Pittsburgh's U.S. Steel to Japan-based Nippon Steel
As of Wednesday morning, a U.S. National Security Panel is reviewing the proposed $15 billion deal and the panel has to refer its decision on the merger to President Biden by Dec. 22 or 23.Baosteel to maintain current flat steel prices for January sales
Chinese steelmaker Baosteel will maintain current prices for hot rolled coil (HRC) for the domestic market for sales in January 2025.
Fitch raises ore price forecast for 2024 to $110/t
In its December review, the international rating agency Fitch Ratings raised its iron ore price forecast for 2024 to $110/t and left its expectations for coking coal unchanged. This is stated in the agency’s report.Japanese takeover could spell long-term decline of U.S. Steel, union chief says
The head of a powerful labour union opposing U.S. Steel's (X.N), opens new tab sale to Japan's Nippon Steel (5401.T), opens new tab said he has not received assurances that the would-be owners are committed…