Steel News & Market Reports
Steel market updates, daily price reports, industry events and more.
Liberty Steel’s $70 Million Hungarian EAF Project Raises Questions Amid Financial Strains
Steel manufacturing giant Liberty Steel recently signed a contract with Chinese engineering company CISDI, finalizing a feasibility study to build an electric arc furnace at the Dunaújváros plant in Hungary.
ArcelorMittal announces price increases for long products across Europe
Global steelmaker ArcelorMittal announces an increase in prices for long products across Europe. The move is driven by high production costs and the need to restore margins, Kallanish reports, citing market sources.
Turkey increased steel exports by 49.4% y/y in January-April
The increase in the indicator was mainly due to the increase in the export of flat rolled products – by 84.4% y/y
Recycled steel price waiting game continues
The first half of this year has been an exercise in awaiting a price rebound for processors and shippers in the ferrous scrap market.
Rio Tinto Invests $143M in Low-Emission Steel Research And Development
Mining leader Rio Tinto has announced a $143 million (A$215 million) investment to establish a new research and development facility in Western Australia dedicated to low-emission steelmaking. The facility will focus on advancing the BioIron™…Nippon Steel's Mori returns to US this week for talks on US Steel takeover
Nippon Steel’s vice chairman plans to return to the United States this week for more talks over the proposed acquisition of US Steel and would study selling some assets if necessary for the deal to…
Global rebar prices fell in most regions in May
Global rebar prices declined in most regions in May. The main factors behind the downward trend were weak demand and a fairly high supply. The state of the construction industry in most countries is not…US Steel, Nippon Steel Receive All Non-US Approvals For Merger
U.S. Steel Corp (X.N), opens new tab and Japan's Nippon Steel (5401.T), opens new tab have received all regulatory approvals outside of the United States for their proposed $14.9 billion merger, the companies said on…Global hot-rolled coil prices decline amid weak demand
In May 2024, prices for hot-rolled coils fell in most major markets. Trade is constrained by an excess of supply over demand, unfavorable economic prospects and uncertainty in the steel market.
Italy increased steel imports by 4.4% y/y in Q1
In January-March 2024, Italy increased steel imports from third countries by 4.4% compared to the same period in 2023, to 2.466 million tons. This is evidenced by the data of the Italian steel producers’ association…Global scrap prices mostly stabilized in May
Global scrap prices remained largely stable in most major markets in May. Price fluctuations did not exceed $10/t.United STates Steel Imports Up 11.3% in April vs. March
Based on preliminary Census Bureau data, the American Iron and Steel Institute (AISI) reported today that the U.S. imported a total of 2,801,000 net tons (NT) of steel in April 2024, including 2,092,000 net tons…
As U.S. Steel opens new Iron Range taconite facility, its potential foreign sale looms
Japan's Nippon Steel plans to acquire the company pending regulatory approval, but the transaction, announced in December 2023, has drawn national security and supply chain concerns.India only country among top 5 largest steel producers in world to see growth in production; China, US see decline
India stands out as the only top steel-producing nation with production growth in April, amidst global declines. China, the global leader in steel production, saw its April output decrease by over 7% year-on-year to 85.9…China’s $8.5 billion in steel spurs Latin America toward tariffs
One after another, Latin American nations are following in the footsteps of the US and Europe by imposing prohibitive tariffs on Chinese imports — a strain in what’s been an otherwise cozy relationship.April 2024 crude steel production
World crude steel production for the 71 countries reporting to the World Steel Association (worldsteel) was 155.7 million tonnes (Mt) in April 2024, a 5.0% decrease compared to April 2023.Indian steel mills fear surge in Chinese imports after U.S. tariffs
India's steel industry, already reeling from cheaper imports, is worried about a surge in shipments from China after the United States imposed tariffs on Chinese steel, industry executives and analysts said. U.S. President Joe Biden…AISI Applauds Biden China Tariff Hike Announcement
President Joe Biden today announced that he is directing the U.S. Trade Representative (USTR) to increase tariffs under Section 301 of the Trade Act of 1974 on $18 billion of imports from China – including…German Stainless Steel-HR Coil Price Stabilises in May Amidst Market Challenges
In a recent development in the steel industry, the Stainless Steel-HR Coil market in Germany has shown interesting dynamics amidst a backdrop of shifting market conditions and global challenges.