South Korea’s Hyundai Steel, a subsidiary of automakers Hyundai Motor and Kia, has declared a state of emergency. The company is stepping up cost-saving measures amid US tariffs on steel and aluminum and declining profitability due to growing competition in the domestic market from Chinese and Japan Read More

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 stabilizing in January at $405/t, prices returned to growth. During February, Brazilian pig ir Read More

Most steel industry executives in North America expect hot rolled coil (HRC) prices to fluctuate between $600 and $800 per short tonne this year. This is according to the results of the annual survey conducted by Headwall Partners, an independent investment banking firm specializing in the metals an Read More

In January 2025, Chinese steelmakers that are members of the CISA industry association reduced their overall energy consumption by 0.29% compared to the same period last year. Total energy consumption per tonne of steel decreased by 0.33% y/y, while electricity consumption per tonne of steel increas Read More

Government launches consultation plan for steel industryThe UK government has reaffirmed its commitment to invest £2.5 billion ($3.15 billion) to support the steel industry and protect jobs in the steel sector. This was announced in a statement by the government.The funds will come partly from the n Read More

The commissioners of Acciaierie d’Italia (ADI) plan to produce 3.5 million tons of steel in 2025. Production will gradually increase after the re-launch of blast furnace No. 2, Kallanish reports.To implement the plan, the commissioners asked the Italian labor minister to extend temporary layoffs for Read More

Chinese steel companies will cut production amid falling domestic demand, Bloomberg reports.The country still produces too much steel – in 2024, production declined (-1.7 y/y), although steel production remained above 1 billion tons for the fifth consecutive year. However, domestic consumption is fa Read More

India in April-December 2024 (9 months of 2024/2025 fiscal year) increased imports of rolled products to at least a six-year high of 7.27 million tons, up 20.3% year-on-year. Reuters reports this with reference to preliminary government data.The country remained a net importer of rolled steel in the Read More