Steel News & Market Reports
Steel market updates, daily price reports, industry events and more.
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…European slab prices declined in the second half of April
According to Eurometal, offers for steel slabs in the EU fell to $500/t CIF in the second half of April, compared to $520-540/t CIF in the first half of the month. Compared to March, prices…
Export collapse, tariffs weigh on US scrap prices
As May trading approaches, pressure on US domestic scrap prices continues to build, fuelled by peaked finished steel prices, the collapse of export markets in April, and seasonally increasing scrap inflows.European steelmakers flag trade and price risks despite quarterly earnings beats
Europe's top steelmakers showed more resilience than expected in their first-quarter earnings, but warned that global trade tensions, weak European prices and market volatility are clouding the outlook for the rest of the year.India's Jindal Steel posts surprise loss on weak steel prices, impairment charges
India's Jindal Steel and Power (JNSP.NS), opens new tab reported a surprise loss in the fourth quarter on Wednesday, due to one-off impairment charges related to its Australia and Madagascar assets, and weak steel prices.Indian prices for hot rolled coils increased in the second half of April
Offers from Indian hot-rolled coil producers increased by $10/t to $685/t FOB from April 18-25, according to Kallanish. According to traders, this is due to the introduction of a 12% safeguard duty on imports of…US prices for hot-rolled coils went down in late April
Offers from hot-rolled coil producers in the US dropped from $975/mt to $952/mt EXW from April 11-25, according to Kallanish. The previous values were peak due to the uncertainty that arose after the introduction of…China's Baosteel Q1 net profit jumps 26.4% on lower costs
China's biggest listed steelmaker, Baoshan Iron & Steel Co (600019.SS), opens new tab, on Friday reported a 26.4% annual increase in its first-quarter net profit thanks to lower costs, but flagged persistent risks from rising…China Iron and Steel Association Members' mid-April daily steel output rises further
Daily crude steel output among the member mills of the China Iron and Steel Association (CISA) climbed further during April 11-20, rising by another 1.5% or 32,000 tonnes/day from the previous ten days to hit…India confident of achieving steel production target by 2030, official says
India will achieve its target of expanding steel production capacity to 300 million tons by 2030, the Steel Secretary Sandeep Poundrik said on Thursday, as the government seeks to reduce import dependence and support domestic…Germany reduced steel production by 11.3% y/y in March
In March 2025, German steelmakers reduced steel production by 11.3% compared to the same month in 2024, to 3.11 million tons. The figure increased by 15.2% compared to the previous month. This is evidenced by…Tariffs may mean more US steel jobs. Will there be workers to fill them?
America will need many more like them to achieve President Donald Trump's vision for a hugely expanded U.S. factory sector. The steel industry — hit with 25% tariffs as one of the first salvos of…
Steel Dynamics notes strengthening of steel prices in Q1
Steel Dynamics, an American steelmaker, reports stronger steel prices and improved underlying demand in January-March this year. This is stated in the company’s report for the first quarter.India's small steel mills pause job cuts after measures to curb Chinese imports
India's smaller steel mills plan to delay job cuts and other measures such as trimming output, executives said, after the government imposed a temporary tariff to protect local producers from a surge in cheap imports,…
Global prices for ferroalloys declined in mid-April
Spot offers for Mn 65% silicomanganese in China fell by $6/t from April 14 to April 21 – to $799-$836/t EXW, according to BigMint. During this period, futures contracts for silicomanganese of this class for…