Steel News & Market Reports
Steel market updates, daily price reports, industry events and more.
Iron ore prices rose to its highest level since February
In July, the global iron ore market showed significant price growth due to a combination of positive fundamental and expected political factors. September futures on the Dalian Exchange reached $112.74/t as of July 21, the…
Nucor lowered prices for hot-rolled coil by $10/t
US steel company Nucor announced a reduction in its weekly spot price (CSP) for hot-rolled coil (HRC). Offers for the week of July 21-27, 2025, fell by 1.1% or $10/t compared to the previous week,…
Global scrap market under pressure from macroeconomic instability
The recycled steel (scrap) market continues to feel the burden of macroeconomic instability this year. This is stated in a report by World Mirror, a division of the World Recycling Association (BIR).
US steelmakers eye mixed second quarter despite tariff-led price spikes
Top U.S. steelmakers' second-quarter fortunes are likely to be a mixed bag, caught between a fillip from higher steel prices and uneven demand amid uncertainty over U.S. President Donald Trump's tariffs.
Canada's steel import duties violate WTO rules, says China
The Chinese embassy in Ottawa criticized duties slapped by Canada this week on Chinese imported steel, saying on Friday they violated World Trade Organization (WTO) rules and disrupted the global trade order.Japan, EU to explore joint rare earths procurement, Nikkei reports
Japan and the European Union will consider joint public-private partnerships as they look to reduce their reliance on China in areas such as the procurement of rare earths, the Nikkei newspaper reported on Thursday.
Canada announces steel tariffs on some trade partners to protect domestic industry
Prime Minister Mark Carney on Wednesday said Canada will introduce a tariff rate quota for countries with which it has free trade agreements, excluding the United States, to protect the domestic steel industry.India-EU coils prices remain stable
Indian hot rolled coil export prices to Europe are largely stable week-on-week while cold rolled coils are marginally down by $5/tonne on-week, as demand remains slow ahead of summer holidays in the region, Kallanish learns…Rio Tinto increased ore production in Q2 to its highest level since 2018
In the second quarter of 2025, mining company Rio Tinto achieved its highest level of iron ore production in Australia’s Pilbara region since 2018. Total production amounted to 83.7 million tons, which is 20% more…Tokyo Steel holds prices steady for August contracts
Japan's leading electric arc furnace steelmaker Tokyo Steel says it will keep domestic steel prices unchanged across all product categories for August contracts, marking the third consecutive month of price stability.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.