Steel News & Market Reports
Steel market updates, daily price reports, industry events and more.
Germany reduced scrap exports to a record low in 2024
In 2024, Germany reduced exports of ferrous scrap by 11% compared to 2023, to 7.1 million tons. This is the lowest figure since the beginning of data collection (2006). This is evidenced by data from…
ArcelorMittal Europe increased steel production by 8.3% y/y in 2024
The European division of global steelmaker ArcelorMittal increased steel production by 8.3% in 2024 compared to 2023, to 31.2 million tons. This is stated in the company’s financial report.
Turkish scrap prices return to growth
HMS 1&2 (80:20) scrap price offers at the end of last week rose by 2.7% compared to the beginning of March, to $375/t, CNF Iskenderun, according to MetalPlace. The growth resumed after a pause in…
Global prices for rebar fell in early March
The dynamics of rebar sales by traders in the first ten days of March was determined by both seasonal and systemic factors. Manufacturers in most regions of the world had to respond by adjusting prices,…
US aluminium, steel prices hover near peaks as tariffs kick in
The cost of aluminium and steel in the United States hovered near recent peaks on Wednesday after U.S. tariffs of 25% took effect and sparked retaliation from Canada and Europe.
Algoma Steel pauses exports of steel from Canada to US, CEO says
Algoma Steel (ASTL.TO), opens new tab has paused exports of steel from Canada to the United States until Thursday, when Canadian ministers are expected to meet their U.S. counterparts in Washington, CEO Michael Garcia said.Protective measures boost HRC prices worldwide
Hot rolled coil prices in the Northern European region increased by €4.55/t in the first week of March, according to Eurometal. Compared to the same period in February, the increase was €32.2/t. Official offers from…
Baosteel maintains current flat steel prices for April sales
Leading Chinese steelmaker Baosteel will not raise prices for flat products for April domestic sales. The decision applies to all types of these products, including hot-rolled and cold-rolled coils, Kallanish reports.Nucor has increased prices for hot rolled coils by $155/t since the beginning of the year
The US steel company Nucor has announced another increase in the spot price (CSP) for hot rolled coil (HRC). Starting from March 10, 2025, the base price of HRC will be $915 per short tonne…Five Steel Groups Pledge Support for Steel Tariffs, Applaud Actions
Five organizations representing the American steel industry today wrote to President Trump to express strong support for restoring 25 percent tariffs on steel imports and eliminating the exclusion process for that tariff program.
Global iron ore prices declined in early March
The reduction in Chinese imports in January-February failed to support the price of ore on the main trading platforms in Southeast AsiaIndian steel prices seen dropping on US tariffs
Indian domestic steel prices may witness a correction of around INR 3,000/tonne ($34.45/t) due to the potential redirection of excess supply into India amid US import tariffs.China to mandate steel output cuts to ease glut, restore profits
Authorities will promote industry restructuring to reduce production, the nation’s economic planning agency said at the National People’s Congress in Beijing on Wednesday.Global pig iron prices recovered after a fall
Price offers for pig iron shipments in Brazil increased to $430/t by the end of the month, FOB Ponta da Madeira, according to Metalplace. This corresponds to quotes at the beginning of December 2024. After…European producers prepare for higher prices for HRC
Buyers cannot book purchases from local producers at a price lower than €600/t. Psychologically, the market is ready for a price change, distributors sayAsian billet prices continue to decline
Buyers take a wait-and-see attitude in hope for further price cuts despite announced production cuts in China and declining inventoriesGlobal steel, raw material prices show mixed trends in Feb'25. What lies in store for Mar'25?
Global steel and raw material prices showed varying trends this month (till 25 February), with a range of factors inducing volatile market sentiment.Italian iron rises as EU exhausts Russia quota
Italian pig iron asking prices are on the rise, primarily influenced by a scarcity of alternatives to supply from Russia. A Ukrainian producer is offering pig iron in Italy at $450-460/tonne cfr and negotiating with…Nucor raises HRC prices for the sixth time since the beginning of the year
US steelmaker Nucor has announced another increase in the spot price (CSP) for hot rolled coil (HRC). Starting March 3, it will be $900 per short tonne for all producers’ plants, except for California Steel…