Steel News & Market Reports
Steel market updates, daily price reports, industry events and more.
India: HRC-rebar spread rises after four-month gap in Aug'24, but prices still under pressure
The HRC-rebar spread reversed to normalise in August, 2024, after a gap of four months, reveals BigMint data. Usually, hot rolled coils (HRCs) are sold at a premium to rebars. However, it may be recalled,…
Global scrap consumption decreased by 1.5% y/y in H1 2024
Global consumption of ferrous scrap in the first half of this year, according to BigMint, decreased by 1.5% year-on-year – to 325 million tonnes.
US fears Nippon bid for U.S. Steel could hit vital steel supplies
Nippon Steel's proposed $14.9 billion takeover of U.S. Steel would create national security risks because it could hurt the supply of steel needed for critical transportation, construction and agriculture projects, the U.S. said in a…
Ferrochrome prices remain stable – Stainless Espresso
Asian ferrochrome prices, which are relevant for stainless steel production among other things, have been extremely stable for some time, despite occasional volatility for several months. And is this report too politically explosive? After a…Iron ore price sinks as steel group warns of ‘flash in a pan’ recovery
Iron ore slumped to its lowest level since 2022 and traded near $90 a ton as China’s main steel industry group advised mills to be cautious in boosting output too quickly to avoid snuffing out…China's steel prices may rebound further in September
With China's steel market entering the traditional peak season in autumn, the country's steel prices in September are expected to continue the rising trajectory they've been following since late August, Mysteel's Chief analyst Wang Jianhua…
US Steel core management, majority of board members will be US citizens, Nippon Steel says
Japan's biggest steelmaker Nippon Steel (5401.T), opens new tab, which is seeking to acquire U.S. Steel (X.N), opens new tab, said on Wednesday if its purchase goes ahead core senior management as well as a…
Steel industry leaders in US have high hopes for revival in 2025
American steel executives say they are optimistic that demand for the industrial material will rebound next year, recovering from the lacklustre demand and low prices that have hobbled the industry in 2024.Price trend for stainless steel in Europe for September 2024
A look at the current price trend for stainless steel in Europe and how nickel and stainless steel scrap are influencing it. And in the UK, domestic companies in particular are benefiting from the current…Harris to oppose sale of U.S. Steel to a Japanese firm during Pittsburgh event
Vice President Kamala Harris plans to use Monday's joint campaign appearance with President Biden in the industrial city of Pittsburgh to say that U.S. Steel should remain domestically owned — coinciding with the White House's…US Stainless-Steel CR Coil Prices Stable; Minor Declines in Germany and China Amid Economic Challenges
The prices of Stainless-Steel CR Coil stayed stable as of August 23rd, with the US domestic market. Additionally, Germany saw a minor price reduction in Stainless-Steel CR Coil, with concerns about European business challenges.Nippon Steel, peers urge Tokyo to curb steel imports from China, executive says
Nippon Steel (5401.T) and other Japanese steelmakers are urging Tokyo to consider curbing cheap steel imports from China, the world's biggest steel producer, to protect the Japanese market, Nippon Steel Vice Chairman Takahiro Mori said…Nippon Steel announces $1 billion investment into U.S. Steel's Mon Valley Works operation
Nippon Steel, the Japanese company with plans to take over U.S. Steel, has pledged to invest $1 billion into the company's Mon Valley Works operation.Nippon Steel, peers urge Tokyo to curb steel imports from China, executive says
Nippon Steel (5401.T) and other Japanese steelmakers are urging Tokyo to consider curbing cheap steel imports coming from China, the world's biggest steel producer, to protect the local market, Vice Chairman Takahiro Mori said in…US Steel Imports Up 12.5% In July vs. June
Based on preliminary Census Bureau data, the American Iron and Steel Institute (AISI) reported today that the U.S. imported a total of 2,421,000 net tons (NT) of steel in July 2024, including 2,017,000 net tons…India set to hold more talks over import curbs on steelmaking raw material
India will hold wider consultations with steel companies before imposing curbs on imports of low ash metallurgical coke, used in steelmaking, a source with direct knowledge of the matter told Reuters.Asian steel prices will have limited support in Q3 – S&P Global
In Q3 2024, Asian steel markets will receive limited support due to weak seasonal demand, as well as the persistence of negative forecasts for the real estate and construction sectors in various markets. This is…Scrap prices expected to rebound in short term, long-term market still uncertain
This week, China's steel mills continued production cuts, leading to lower rebar output and inventory depletion. While the supply-demand balance is gradually improving, high inventories of steel billets and flat-rolled products persist, creating pressure on…Why Nippon Steel’s $15 Billion Takeover of U.S. Steel Is in Peril
The proposed merger of Japanese and American industrial giants, which proponents say would benefit both countries, is ensnared by political and labor opposition.