Steel News & Market Reports
Steel market updates, daily price reports, industry events and more.
Pentagon to keep working with US rare earths projects, US defense official says
The U.S. Department of Defense plans to continue working with rare earths companies to ensure diverse American supply of the critical minerals used across the economy, a defense official told Reuters on Tuesday.Prices for Brazilian slabs fell by 5% in June
In June, regional markets saw a predominantly downward trend in slab prices. The key influencing factors remain weak export demand in many regions and US tariff policy.
Prices for square billets stabilized in June
Prices for square billets in most regional markets remained stable in June, with a slight downward correction to $5/t. This is due to weak export demand in most countries.
Finished Import Market Share Estimated at 20 Percent in June
Based on the Commerce Department’s most recent Steel Import Monitoring and Analysis (SIMA) data, the American Iron and Steel Institute (AISI) reported today that steel import permit applications for the month of June totaled 2,250,000…Sumitomo invests in US hydrogen producer
Japanese trading company Sumitomo Corporation announced Thursday a “strategic investment” in Independence Hydrogen to expand hydrogen operations in the US.Turkish longs continue to decline amid bearish market
Turkish long steel producers have further reduced their prices in both export and domestic markets due to persistently sluggish demand.
Nippon Steel Looking to Double Its U.S. Steel Output in 5 Years, Says CEO
Nippon Steel Corp. plans to double its crude steel production in the United States in three to five years, according to its chairman and chief executive officer, Eiji Hashimoto.Trump imposes 50% tariff on imports from Brazil
US President Donald Trump has announced that from August 1, 2025, the United States will raise its “reciprocal” tariff on imports from Brazil to 50%. Until now, a 10% tariff has been in effect.
Baosteel raises hot-rolled coil prices by $14/t for August sales
Baoshan Iron & Steel (Baosteel), a subsidiary of the world’s leading steel producer China Baowu Steel Group, is raising prices for hot-rolled coil (HRC) by 100 yuan per ton ($14/t) for domestic sales in August.European steelmakers advocate for rapid replacement of steel safeguard measures
European steelmakers are calling for a faster replacement and strengthening of the European system of protective measures. This was confirmed by Axel Eggert, Director General of the European Steel Association (EUROFER), according to OPIS.Taiwan's Feng Hsin rolls over rebar, scrap prices
Feng Hsin Steel, Taiwan's largest rebar producer, has decided to hold its rebar list prices and local scrap procurement prices for transactions over July 8-11 to monitor any market changes, a company official confirmed.Glencore to sell Philippine copper smelter: Bloomberg
Swiss miner and trader Glencore is reportedly selling its copper refinery in the Philippines to the Villar family, headed by real estate billionaire Manny Villar Jr.Iron ore prices recovered to over $100/t in early July
Iron ore prices in early July 2025 recovered to two-month highs. In particular, during the week of June 30–July 4, September iron ore futures on the Dalian Commodity Exchange (DCE) rose 2.3% to $102.2/t, while…
Chinese steelmakers propose adding scrap metal to the list of strategically important resources
The China Iron and Steel Association (CISA) has proposed that the government add steel scrap to the list of strategically important resources. This was discussed at the association’s meetings on the green and low-carbon development…The global HRC market continued its negative trend in June
In June 2025, there was an imbalance in the hot-rolled coil market. In the US, domestic producers managed to raise prices thanks to Trump’s tariffs. In China and the European Union, however, the market remained…China's foreign minister dismisses European worries over rare earths
China's foreign minister downplayed European worries over rare earth exports restrictions on Thursday, saying it was standard practise to control dual-use goods exports but that Europe's needs could be met if applications were submitted.Washington passes major bill cutting EV incentives
The bill, which is intended to axe support for healthcare and clean technologies to fund $4.5 trillion in tax cuts and a $150 billion boost in defence spending, received 212 votes in favour and 211…Indian rebar prices fall further on monsoon-hit demand
Prices for 12-32mm IS 1786 Fe 550D rebar from primary mills are assessed at INR 51,000-51,500/tonne ($598-604/t) ex-Mumbai, while 12-25mm IS 1786 Fe 500D secondary rebar is trading at INR 41,000-41,200/t ex-Raipur. Both segments have…Nucor raised prices for hot-rolled coil by $10/t
US steel company Nucor announced an increase in the weekly spot price (CSP) for hot-rolled coil (HRC). Offers for the week of June 30 to July 6, 2025, rose by 1.1% or $10/t compared to…