Steel News & Market Reports
Steel market updates, daily price reports, industry events and more.
Sudden Drop in Global Steel Output
China’s steelmakers reported a -9.0% year/year tonnage decrease amid new dumping charges and reports of more regulations to address overproduction.
China increased steel exports by 21.8% y/y in January-July
In January-July 2024, China’s steel companies increased steel exports by 21.8% compared to the same period in 2023 – up to 61.23 million tons. This was reported by the China Steel Manufacturers Association (CISA).
Türkiye’s crude steel output increases 4 percent in July
Türkiye produced 3.1 million tons of crude steel last month, marking a 4 percent increase compared with July 2023, according to data from the World Steel Association.
China Puts Brakes on New Steel Mills With Industry in Crisis
China has abruptly suspended its system for approving new steel plants, as the government responds to a deep demand slump that’s crushed industry profits and fueled a surge of exports.
Steel prices have fallen, but green steel at a premium: BofA
The European steel industry faces a unique situation. Traditional steel prices have declined due to market pressures, while "green steel" produced through environmentally friendly methods commands a premium.Only 5% of Chinese steel producers are currently profitable
The Chinese steel industry is going through a “winter”, according to the head of the world’s largest steel producer, with analysts warning the sector – vital for capesize owners – faces prolonged decline.The world’s largest steel industry is going through a ‘winter’ amid a supply glut and weak demand
China steel rebar prices are down over 20% year to date at 3,208 Chinese yuan ($450) per ton, data from financial information provider Wind showed.India remains net steel importer in April-July as Chinese shipments rise
India continued to be a net importer of steel during the first four months of the current fiscal year beginning April, with China as its biggest supplier of the alloy, according to provisional government data…US' steel slab imports drop in Jun m-o-m, y-o-y
According to the United States Department of Commerce (USDOC), the US imported roughly 319,000 tons of steel slabs in June, dropping by 35.5% from the previous month and 50% yearly.Hot-rolled steel price in Turkey market slightly rises
Due to improved demand in the local Turkish market, during the last week, the domestic and import prices of flat products in the Turkish market went up. As the hot-rolled market of Turkey turned to…Outlook darkens for China's already weak steel output
China's steel output slumped in July and is likely to continue to fall in coming months as mills struggle for profits amid sluggish demand and look to comply with government guidance that ensures annual production…Roll Forming Corporation to expand Jeffersonville activity
Steel processing company voestalpine Roll Forming Corporation (RFC) will expand its operations at Ports of Indiana-Jeffersonville.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…Southeast Asian stainless steel HRC prices rise again
Hot rolled coil prices for stainless steel in Southeast Asia rose again last week. Prices for nickel pig iron continue to soar. And companies in South Korea, India and Taiwan are reporting significant profit growth…Citi updates its 2024 outlook for steel prices
Analysts at Citi Research have updated its outlook for steel prices in 2024, reflecting a nuanced view of both short-term and mid-term dynamics in the steel market.Autos, Hurricane Beryl weigh on US manufacturing output in July
Production at U.S. factories fell in July amid a decline in motor vehicle output and disruptions from Hurricane Beryl.India launches anti-dumping probe into some steel imports from Vietnam
India has initiated an anti-dumping investigation on certain steel products imported from Vietnam, according to a notification from Ministry of Commerce and Industry.Iron Ore Hits Lowest Since 2022 as Steel Crisis Rattles Market
Iron ore hit the lowest level since 2022 on concern that global supply is running ahead of demand, with China’s steelmakers mired in a crisis and cutting output just as major miners boost exports.China Steel announces price cut in response to China’s excessive exports
Countries including Vietnam, Thailand and Turkey have recently responded with trade measures to China’s low-priced steel exports