Steel News & Market Reports
Steel market updates, daily price reports, industry events and more.
British Steel secures major Egyptian contract to supply railway track
British Steel has secured a deal to supply rail track for a new, fully-electrified route in north Africa, the company has announced.
Automakers urge White House to oppose US Steel sale to Cleveland-Cliffs
A group representing major automakers on Friday urged the White House to oppose any effort by steelmaker Cleveland-Cliffs (CLF.N), opens new tab to buy rival U.S. Steel (X.N), opens new tab, warning that a deal…
The US steel industry is going through a rough patch. How did it get there?
President Biden has come out against the purchase of U.S. Steel by Japan’s Nippon Steel, saying it’s vital to maintain domestic ownership for one of America’s largest steel manufacturers.
Nippon Steel emphasises its 'deep roots' in the US as it pursues U.S. Steel deal
Nippon Steel (5401.T), opens new tab intends to pursue its proposed acquisition of U.S. Steel (X.N), opens new tab and wants its "deep roots" in the United States to be recognised, its new president said…
Cleveland-Cliffs raises rolled steel prices for the second time in March
American steelmaker Cleveland-Cliffs announces an increase in minimum base prices for hot-rolled, cold-rolled and coated steel by $60 per short ton. This is stated in the company’s press release.
Trading activity in the European ferroalloy market remains slow
Trading activity in the European high carbon ferrochrome (HC FeCr) market remained slow last week, according to Metalshub Intelligence Service (Metis), as the market put pressure on prices.
US reduced steel imports by 3.2% m/m in February
In February 2024, US steelmakers reduced steel imports (rolled and semi-finished products) by 3.2% compared to January this year, to 2.47 million tons. This is according to the American Iron and Steel Institute (AISI).
Global prices for hot-rolled sheets decline amid falling raw material prices
Global hot-rolled steel prices are adjusting after a sharp rise in late 2023 and early 2024. The slowdown in demand for products has kept the downward price trend in major global markets for about 2…
America's 1st 'green steel' plant coming to Perry County in $1B federal investment
A new “green steel” plant will soon put Perry County on the map for clean energy manufacturing and create hundreds of new jobs.
Cleveland-Cliffs to get $575M to decarbonize Middletown steel mill
Cleveland-Cliffs will get up to $575 million to slash emissions at its Middletown steel mill, as part of a broader plan by the Biden administration to decarbonize industrial plants around the U.S.
Vista Metals to Construct Facility in Kentucky
Vista Metals will construct a new facility in Bowling Green, Ky., to supply specialty aluminum products to the aerospace industry. With nearly a $60 million initial investment, the new site will primarily support downstream processing…
Kern County Board Gives Approval to California Rebar Mill
The Kern County Board of Supervisors in California have approved plans from Pacific Steel Group to build a rebar mill and scrap metal recycling facility. It will become the first new steel mill in California…
Potential spikes in steel prices could endanger offshore wind projects – report
There is likely to be an explosion of demand for steel in the UK, and the potential price spikes that could follow could delay key projects, such as the expansion of offshore wind, a report…
US awards record $6bn to back industrial emissions reduction projects
The US Energy Department on Monday announced $6 billion in federal funding to subsidize 33 industrial projects in 20 states to cut carbon emissions, saying the investment would support well-paying union jobs and boost US…
Global steel production increased by 3.7% y/y in February
Steel production in the 71st country for the month amounted to 148.8 million tons
Global rebar prices have fallen sharply since early March
Weak steel demand combined with falling commodity prices weigh on the market
Structural Steel Market to Reach $121.83 Million by 2030
Structural Steel Market to Reach $121.83 Million by 2030 Owing To the Rapid Increase in Demand for Infrastructure Development: Coherent Market Insights (CMI)