Steel News & Market Reports
Steel market updates, daily price reports, industry events and more.
Moody’s expects iron ore prices to remain stable at $80-100/t in the coming years
International rating agency Moody’s expects iron ore prices to remain at $80-100 per tonne in the next 12-18 months. This forecast is driven by weak demand from China and high supply on the global market,…
Thyssenkrupp's profit plunges as tariff uncertainty hits demand
Thyssenkrupp's operating profit plunged in the second quarter, hurt by what the German conglomerate said was high economic uncertainty among most of its customers and regions due to higher tariffs, notably in automotive and steel.
China Steel cuts domestic prices amid low demand
China Steel Corp, the nation’s biggest steelmaker, yesterday announced sweeping price cuts by NT$600 per tonne for domestic delivery next month in response to customers’ conservative demand prospects as they grapple with volatility in foreign…
India plans tariff retaliation over US steel duty
India has proposed retaliatory tariffs on select US products, in response to US duties on steel and aluminium imports. The proposed measures target $7.6 billion worth of imports.Steelmaker Nucor halts some production after cyber security incident
Steelmaker Nucor (NUE.N), opens new tab said on Wednesday it had halted certain production at various locations after identifying a cyber security incident that involved unauthorized third-party access to certain information technology systems it used.Nucor cuts hot rolled coil prices for the second time in May
American steel company Nucor has announced a reduction in the weekly spot price (CSP) for hot rolled coil (HRC). Offers for the week of May 12-18, 2025 fell by 1.1% or $10/t – to $900…
Baosteel maintains current flat steel prices for June sales
China’s leading steelmaker Baosteel has maintained current prices for flat products for sale on the domestic market in June.Indian rebar prices fell by $8/t in early May
Offers for rebar in India fell from $689/t to $681/t EXW Mumbai for the period from May 2 to May 9, according to Kallanish. The market is adjusting after the government imposed a 12% tariff…Salzgitter's results hit by subdued economic environment in Europe, tariff threat looms
Salzgitter (SZGG.DE), opens new tab reported first-quarter results below analysts' expectations on Monday, as subdued economic developments in Europe, and especially Germany, weighed on its steel production and steel processing businesses.Nippon Steel expects profit to drop 43% this year, US Steel decision by early June
Nippon Steel (5401.T), opens new tab expects net profit to slide 43% in the fiscal year ending March 2026, it said on Friday, citing a weak global steel market pressured by China's exports and the…China's steel prices likely to soften in May
China's steel prices are expected to soften in May as the market enters its traditional seasonal demand lull, while escalating global trade uncertainties continue to cloud the outlook, according to a steel sector survey released…India's stainless steel body to file anti-dumping petition in few weeks, Jindal Stainless says
India's Jindal Stainless (JIST.NS), opens new tab said on Thursday a domestic trade body will soon seek anti-dumping duties on stainless steel imports from China and Vietnam, weeks after India levied a 12% temporary safeguard…Global iron ore prices fell by $1.5/t in early May
Spot quotations of Fe 62 iron ore in China decreased from $98.94/t to $97.76/t CFR Qingdao from April 29 to May 5, according to Kallanish. An increase to the psychological level of $100/t in the…Indian prices for ferroalloys fell by $9/t in early May
Quotes for Indian ferromanganese (Mn 70) fell by $8/t from April 25 to May 5 to $863/t EXW Durgapur, according to BigMint. Offers for ferromanganese (Mn 75) decreased by $9/t to $865/t EXW.Hyundai Steel, Dongkuk Steel raise rebar prices
South Korea's two largest rebar producers, Hyundai Steel and Dongkuk Steel, have raised their May closing prices for rebar to KRW 780,000/tonne ($565/t), up KRW 30,000/t from the previous month.Nucor cuts prices for hot rolled coils by $20/t
American steel company Nucor has announced a reduction in the weekly spot price (CSP) for hot rolled coil (HRC). Offers for the week of May 5-11, 2025, dropped by 2.2% or $20/t to $910 per…Cleveland-Cliffs to shut down three steel mills indefinitely
US-based mining and steel company Cleveland-Cliffs Inc. will indefinitely decommission its three steel mills in Pennsylvania and Illinois, due to a downturn in market conditions, according to media reports.
India proposes zero-for-zero tariffs on steel, auto, and pharma imports from US
India has proposed zero tariffs on steel, auto components and pharmaceuticals on a reciprocal basis up to a certain quantity of imports in its trade negotiations with the US, reports said.US construction spending falls in March
The Commerce Department's Census Bureau said on Thursday that construction spending dropped 0.5% after a slightly downwardly revised 0.6% increase in February. Economists polled by Reuters had forecast construction spending gaining 0.2% after a previously…