Steel News & Market Reports
Steel market updates, daily price reports, industry events and more.
Bangladesh’s imported scrap offers climb despite weak demand
Imported scrap offers in Bangladesh have increased by nearly $10-15/t this week, despite limited buying interest.
Japan's steel exports decrease in Jan-Aug y-o-y
According to the Japan Iron and Steel Federation (JISF), Japan's steel product exports approximately 21.3 million tons in the first eight months of 2024, decreasing by 4.2% from last year.
ArcelorMittal raises prices for steel coils in Europe by €40/t
Global steelmaker ArcelorMittal has raised prices for hot-rolled coils (HRC) in Europe by €40/t to €590/t.
A number of countries have exceeded the quota for hot-rolled steel since the beginning of Q4
A number of exporters have already exceeded their import quotas for hot-rolled steel in the “other countries” category since the start of the new quota period (October 1 – December 31). SteelOrbis reports this with…
EU imported 10.2 million tons of iron and steel products from Ukraine in January-July
In January-July 2024, the European Union increased imports of Ukrainian mining and metals products by 4% year-on-year – to 10.21 million tons. This is according to GMK Center’s calculations based on Eurostat data.Italy cut steel production by 55% m/m in August
The production of rolled products fell by 64.3% m/m, and that of flat products – by 42% m/mCanadian steelmakers support duties imposition on Chinese steel imports
Members of the Canadian Steel Producers Association (CSPA) have signed an appeal supporting the introduction of targeted tariffs on steel imports from China. This is stated in the message of the industry organization.Steel market is experiencing the longest downturn in 20 years – Metinvest CEO
The global steel market is experiencing its longest downturn in 20 years, said Yuriy Ryzhenkov, CEO of Metinvest Group, at the Siderweb 2024 forum held on 26 September in Vicenza, Italy.Britain's biggest steel works to end production after 100 years
Britain's biggest steelworks will end production later on Monday, when the final blast furnace at Port Talbot in Wales will close after more than 100 years of steelmaking, at a cost of almost 3,000 jobs.Iron ore prices recover from deep decline
Market prospects have improved following the implementation of a broad economic stimulus package by the Chinese governmentScrap shortage situation in Europe will get worse – Federacciai
The industry association also points to high electricity prices for Italian steelmakersTurkey’s long steel quotes continue to rise
Turkish mills have further increased their export quotes this week amid China's recovery, improved order books and production stoppages.Indian steelmakers seek higher tariffs as ‘predatory’ Chinese imports surge
India’s steelmakers have called on the government to double tariffs on steel imports to curb a surge in cheaper steel shipments from China, according to a letter from an industry association seen by Reuters.Japan seeks to improve protective measures against Chinese steel
The Ministry of Economy, Trade and Industry of Japan is seeking to expand the scope of anti-dumping duties to cover Chinese steel among other goods transiting through third countries.Global pig iron production fell by 6.7% m/m in August
In August 2024, the global production of pig iron fell by 6.7% compared to the previous month – to 112.57 million tons. Compared to August 2023, the indicator decreased by 5.8%. This is reported by…Turkey increased steel production by 13.8% y/y in August
In August 2024, steel enterprises of Turkey increased steel production by 13.8% compared to the same period in 2023 – to 3.15 million tons. Compared to the previous month, the indicator increased by 3%. This…Indian rebar prices rise on restocking, higher costs
Indian rebar prices in the secondary market have gained momentum since late last week, driven by restocking activity and rising domestic metallics prices.Billet offer prices rise in China, ASEAN
Billet offer prices have risen in China and ASEAN after Chinese steel markets reacted positively to Beijing’s latest stimulus rollout, Kallanish notes.China's steel prices continue to rally in September
On September 24, China's National Development and Reform Commission (NDRC) released its latest survey on key wholesale steel markets across the country, including South China, Shanghai, and Tianjin, with the survey results showing that Chinese…