Steel News & Market Reports
Steel market updates, daily price reports, industry events and more.
India's steel expansion could hinder net zero emission goal, GEM says
India's plans to ramp up coal-powered steelmaking capacity could impede the country's goal of net-zero carbon emissions by 2070, Global Energy Monitor (GEM) said in a report on Tuesday.
How European steel industry can survive the perfect storm
This year steel exports from China may increase by 22-24 million tons – to 117-119 million tons. This creates colossal pressure on prices. The price of hot-rolled coil in the EU for 11 months of…
Ukraine steel output jumps, but possible coking coal loss clouds outlook
Ukraine has increased its steel production so far in 2024 by 23.1% to 7 million metric tons, data from the country's steel producers union showed on Monday, but the possible loss of a key coking…
Canada expects $71 million in annual revenue from tariffs on Chinese steel and aluminum
The new tariffs should compensate for the losses from cheap Chinese imports, promoting the development of local producersIndian steel industry leads the world in CO2 emissions
India’s steel industry remains the world’s dirtiest in terms of CO2 emissions. According to a 2022 study by the European Commission, steel production in the country generates about 2.6 tons of CO2 per ton of…
US tariffs will affect regional steel trade – Ternium CEO
Mexico needs coordinated action to ensure a balanced steel market. This will allow it to maintain its position as an industrial leader in Latin America. This opinion was expressed at a meeting of the Caintra…Rio Tinto expects ore production to grow by 15 million tons in 2023-2025
In addition to increasing its production performance, the company is actively promoting its decarbonization strategyNippon Steel committed to U.S. Steel takeover, aims to close in Dec, says executive
Japan's Nippon Steel is committed to its $15 billion acquisition of U.S. Steel and is confident of completing it by year-end, a senior executive said, despite strong U.S. opposition including from President-elect Donald Trump.Cleveland-Cliffs opens January booking for hot-rolled coils at $750/t
The US hot-rolled coil market is characterized by stable price levels from leading producers. Cleveland-Cliffs announced the opening of January booking for hot-rolled coils at $750/t, which is in line with the price level in…EU to consider extending restrictions on steel imports – Sejourne
The European Commission (EC) will consider extending measures to restrict steel imports as part of an overall plan to protect the sector during its decarbonization process. This was stated by the Executive Vice President of…Coking coal prices remained stable in November
November 2024 was a month of stability for the global coking coal market with little price fluctuation. In Australia (FOB Australia), premium coking coal held the level of $203/t.Turkey’s steel industry plans to increase utilization to 70% in 2025
Amid job cuts in Germany, Turkey remains optimistic about steel industry developmentUS steelmakers propose a plan to strengthen the manufacturing sector
The proposed measures include, in particular, increased tariffs to support domestic productionSteel consumption in Turkey decreased by 1.8% y/y in January-October
Exports of steel products grew by 30.7% y/y over 10 months, while imports fell by 7.2% y/?Norway forced to pause Arctic seabed mining plans
Norway has paused its controversial plans to mine the seabed in Arctic-reaching territorial waters after the Socialist Left Party (SV), a small left-wing environmentalist group, secured an agreement to delay the initiative in exchange for…Consumer activity in the hot-rolled coil market declined in November
In November 2024, the global hot-rolled coil market was marked by uncertainty. Despite a slight increase in prices in some regions, low demand and economic instability restrained activity.Falling steel prices are a major problem – Tata Steel CEO
Falling steel prices and Chinese imports to India are currently more worrisome than demand for steel products in the country. Tata Steel’s Chief Executive Officer and Managing Director T. V. Narendran told about it in…Low steel prices may hinder capacity expansion in India
Without adequate domestic capacity, the country will be dependent on imports for infrastructure developmentRebar market saw a drop in prices and volatility in demand in November
Offer prices are declining in China, Turkey and Europe, while the US is showing signs of stabilization