Shares of Jindal Steel and Power, Tata Steel, and other major Indian steel producers fell [1] sharply as renewed concerns over U.S. tariffs unsettled investors. The Nifty Metal index, which includes key steelmakers, emerged as the worst-performing sectoral index, reflecting broader market unease over global trade policy shifts. The downturn follows reports that the Trump […]
Nippon Steel Corp. has announced a substantial investment [1] of 868.7 billion yen to introduce electric furnaces at its domestic steel plants, marking a significant step toward decarbonization. The Japanese government, through the industry ministry, will provide up to 251.4 billion yen in financial aid to facilitate the transition from traditional blast furnaces to more […]
India’s steel ministry is advocating for an extension of import restrictions [1] on low-ash metallurgical coke, citing sufficient domestic supply as the primary reason. The move, however, has sparked concerns among steel manufacturers who argue that the curbs could hinder their expansion plans due to difficulties in sourcing preferred grades locally. The restrictions, initially imposed […]
Iran and China have signed an agreement [1] to export engineering services for the development of a sponge iron production facility in Kazakhstan, marking a significant step in regional steel industry collaboration. The project, led by Iran’s ASCOTEC Holding, will utilize Iran’s proprietary PERED technology to design and engineer a sponge iron plant with an […]
Salzgitter Mannesmann Stahlhandel GmbH, a Salzgitter AG company, has announced that it has agreed to sell its Austrian unit, Salzgitter Mannesmann Stahlhandel Austria, to the ECCO Group. As per this agreement, the ECCO Group is expected to take over assets, including its Graz and Gratkorn units in Austria. The Company stated that this decision aligns with its […]
Tata Steel UK has taken a significant step in its transition to sustainable steel [1] production by awarding a contract to JASO Industrial Cranes for the supply of high-capacity process cranes at its Port Talbot facility. This initiative is part of Tata Steel’s £1.25 billion investment in green steelmaking, aimed at reducing carbon emissions and […]
PGE and Ørsted have signed another contract [1] for the production and supply of secondary steel structures for the Baltica 2 offshore wind farm. The agreement, awarded to Grupa Przemysłowa Baltic, marks a significant step in Poland’s offshore wind energy development. Under the contract, Grupa Przemysłowa Baltic will manufacture boat landings and anode cages at […]
Türkiye’s steel manufacturer Saritas Celik Sanayi has initiated a significant investment [1] in integrated stainless steel production, to enhance the country’s export capabilities and reduce dependency on imported materials. The new facility, located in the Yalova Machinery Specialized Organized Industrial Zone, will be developed in multiple phases, with full operational capacity anticipated by 2030. The […]
South Korea’s major steel player, Dongkuk Steel announced a temporary shutdown [1] of its Incheon rebar production plant, marking an unprecedented move in the company’s 71-year history. The decision, effective from July 22 to August 15, comes in response to a prolonged downturn in the construction sector and a persistent oversupply in the domestic steel […]
Thyssenkrupp Uhde and Uniper have formed a strategic partnership to advance a crucial technology for global hydrogen trade: large-scale ammonia cracking. This process is about breaking down ammonia catalytically at high temperatures into hydrogen and nitrogen, followed by purification to produce pure hydrogen. As an initial phase, the companies will construct a demonstration plant at […]
Arabian Gulf Steel Industries (AGSI) has entered into a strategic Memorandum of Understanding (MoU) with Trojan Construction Group to fast-track the use of low-carbon materials and eco-friendly construction methods in the UAE. The agreement was signed at Make it in the Emirates 2025, underscoring the two companies’ shared dedication to supporting the UAE’s decarbonisation goals and […]
U.S. President Donald Trump has publicly backed Nippon Steel’s $14.9 billion bid [1] for U.S. Steel, but key uncertainties remain regarding the scope and structure of the deal. Trump’s comments, made via Truth Social, described a “planned partnership” between the two companies, promising the creation of at least 70,000 jobs and a $14 billion boost […]
The India Supreme Court has ordered a status quo on the liquidation proceedings [1] of Bhushan Steel & Power Ltd (BPSL), providing JSW Steel an opportunity to file a review petition against the court’s earlier ruling. The decision comes after JSW Steel challenged the Supreme Court’s May 2 verdict, which had rejected its ₹19,700 crore […]
The Executive Board of thyssenkrupp AG has made significant progress in developing a strategic target model for the future course of the entire Group and will present its plans to the Supervisory Board of thyssenkrupp AG before the end of this fiscal year. The central strategy involves systematically divesting all business units of thyssenkrupp, making […]
The stainless steel industry is anticipated to face ongoing difficulties throughout 2025, with no significant market recovery expected in the near term due to seasonal demand lows and persistently weak prices, according to reports on Kallanish. Joost van Kleef, chairman of the BIR Stainless Steel & Special Alloys Committee and representative of Oryx Stainless, shared […]
Japan Steel Works (JSW) is set to commence local production [1] of the Patria AMV 8×8 wheeled armored vehicle in September, marking a significant milestone in Japan’s defense manufacturing capabilities. The initiative follows a technology transfer agreement with Finnish defense firm Patria, which selected JSW as its licensed production partner. The Patria AMV was chosen […]
South Africa’s Council for Scientific and Industrial Research (CSIR) has successfully produced [1] 316L stainless-steel powder using a newly commissioned ultrasonic atomizer machine, marking a significant step toward localizing additive manufacturing (AM) materials. The machine, co-funded by the National Research Foundation (NRF), enables CSIR to provide high-quality metal powders tailored for powder bed fusion techniques, […]
According to provisional government data reviewed by Reuters on Thursday, India’s finished steel imports dropped by 11.3% year-on-year in April, reaching 0.5 million metric tons, as shipments from China and Japan declined. To counter a flood of low-cost steel imports, primarily from China, India imposed a 12% provisional safeguard duty on select steel imports in […]
Liberty Steel has not produced anything at two of its key UK plants since July, in a sign of the deep financial difficulties for Britain’s third-biggest steelmaker as it looks for rescue funding. The plants at Rotherham in South Yorkshire and Motherwell in Scotland have not produced any steel for about nine months because of […]
SBM Offshore has officially commenced fabrication of the GranMorgu floating production, storage, and offloading (FPSO) vessel, marking a milestone [1] in Suriname’s first offshore oil development. The first steel cut ceremony took place at BOMESC Shipyard in Tianjin, China, signaling the start of topsides module construction. The GranMorgu FPSO is being developed for TotalEnergies’ $12.2 […]
Shares of BMW Industries witnessed a sharp rally of nearly 12% in Wednesday’s intraday trading after securing a significant order worth ₹364.69 crore from Tata Steel. The steel processing company’s stock surged to ₹59.7 per share, marking its biggest intraday gain since May 5, before settling 4.5% higher at ₹55.8 apiece. The contract, awarded to […]
JSW Steel has formally requested a ₹19,300 crore refund from banks [1] following the Supreme Court’s decision to cancel its 2019 acquisition of Bhushan Power and Steel Ltd. (BPSL). The ruling, issued earlier this month, cited multiple compliance failures and directed the liquidation of BPSL. JSW Steel has also sought a 60-day delay in the […]
NMDC Group, a leading global player in engineering, procurement, construction (EPC), and marine dredging, has entered into a Memorandum of Understanding [1] (MoU) with Jiangsu Juxin Petroleum Steel Pipe to explore potential collaboration. The agreement, signed during the Make it in the Emirates (MIITE) event, aligns with the UAE’s broader industrial growth strategy and strengthens […]
Engineer Saeed Ghumran Al Remeithi, Group CEO of EMSTEEL, announced that the company has added around AED 6.2 billion to Abu Dhabi’s Gross Domestic Product (GDP). In statements to the Emirates News Agency (WAM) during the Make it in the Emirates 2025 forum, Engineer Saeed Ghumran Al Remeithi, Group CEO of EMSTEEL, highlighted the company’s substantial role […]
Green energy downsizing won’t derail Fortescue’s transition, according to Forrest. Andrew Forrest, Fortescue’s billionaire chairman, cautions that Chinese firms are modernizing plants and shifting to cleaner iron ore, leaving Australian miners vulnerable if they don’t adapt. As the major shareholder of Australia’s third-largest iron ore producer behind BHP and Rio Tinto, Forrest notes all three […]
India is now responsible for over 40% of global steelmaking capacity in development (352 mtpa) compared to just 140 mtpa in China. Analysis shows India’s planned steel capacity, which is larger than China’s and the EU’s combined, must leverage EAF and DRI to keep industry emissions within climate targets. A recent analysis shows that electric […]
Nippon Steel has outlined plans to invest $14 billion [1] in U.S. Steel’s operations, including up to $4 billion for a new steel mill, as part of its ongoing bid to secure approval for a merger with the iconic American steelmaker. The Japanese company’s latest investment pledge comes ahead of a crucial national security review […]
Aldar has made history as the first developer in the Middle East and North Africa (MENA) region to integrate hydrogen-based steel rebar [1] into its construction projects. This groundbreaking move, in partnership with EMSTEEL Group, marks a significant step toward decarbonizing the built environment and advancing sustainable construction. The hydrogen-based steel rebar will be used […]
India’s ambitious plans to double steel production [1] by 2030 could severely undermine national and international climate goals, according to a new report by Global Energy Monitor (GEM). The findings highlight the country’s overwhelming reliance on coal-based steelmaking, raising concerns about its ability to curb carbon emissions in line with global efforts. Steel production is […]
Kobe Steel and Mitsubishi UBC Cement Corporation (MUCC) have partnered to explore the feasibility of producing black pellets—a cutting-edge raw material and fuel with the potential to drastically cut CO₂ emissions. According to reports, Black pellets are made by thermally treating conventional wood pellets (known as white pellets), transforming them into a high-energy fuel with […]
HES International B.V. and Binding Solutions have signed a Memorandum of Understanding (MoU) to explore the feasibility of establishing an iron ore cold pelletizing facility at HES’s HBTR terminal in Rotterdam, the Netherlands. HES is a European provider of bulk handling services for industrial customers across the continent. BSL is a technology company that has […]
Thailand’s Board of Investment (BOI) has approved a series of measures [1] aimed at mitigating risks posed by global trade policies, including the removal of investment incentives for solar panel and downstream steel manufacturing. The decision, announced on Monday by BOI Secretary General Narit Therdsteerasukdi, reflects the government’s broader strategy to strengthen Thai businesses, particularly […]
The global steel wire rod market is showing both stability in some key regions and growing concerns of oversupply in others. The current market for the US and Germany is providing a rare period of price and demand stability. However, China’s weakening demand alongside the rising production is dragging the prices downward. Reports show that […]
Billionaire investor Daniel Loeb’s hedge fund, Third Point [1], has disclosed significant stakes in U.S. Steel and Kenvue, as revealed in its latest 13F filing. The firm owned 12.2 million shares of U.S. Steel at the end of the first quarter, signaling confidence in the company’s pending merger with Japan’s Nippon Steel despite ongoing regulatory […]
Iraq has commissioned a 600,000-tonne-per-year steel mill [1] in Basra, more than a decade after awarding the project to Italy’s Danieli Group. The facility, inaugurated by Industry and Minerals Minister Khaled Al-Najm, is expected to support the country’s post-conflict reconstruction efforts and meet growing demand for steel. The project, valued at IQD400 billion ($305 million), […]
The Sajjan Jindal Family Trust has sold a 2% stake in JSW Infrastructure Ltd, India’s second-largest commercial port operator, for ₹1,210 crore to institutional investors, including the Singapore government, to finance the potential takeover of AkzoNobel India. The trust divested 0.88% of its JSW Infra shares worth ₹531 crore to the Singaporean government via block […]
Iraq’s Minister of Industry and Minerals, Khalid Battal Al-Najm, inaugurated the launch of two major industrial projects in Basra on Wednesday, May 14, 2025, marking a key step in bolstering industrial growth in the country’s economic capital. The move focuses on the government’s commitment to expanding Iraq’s industrial base and driving economic development in the […]
Turkey’s iron ore imports fell 17.3% year-on-year in the first quarter of 2025 [1], totaling 2.09 million metric tons, as crude steel production slowed. The value of these imports also declined 35.4% to $228.52 million, reflecting weaker demand. In March alone, Turkey imported 951,292 metric tons of iron ore, marking a 176.6% increase from February […]
Iranian billet export prices [1] have remained stable at $410-420 per tonne FOB for standard grades, as weak demand continues to weigh on the market. Buyers in the United Arab Emirates and Oman are exercising caution, citing concerns about the risk associated with Iranian supply due to potential non-compliance with ECAS certification, a key requirement […]
The European Union is set to impose significantly higher tariffs on Ukrainian imports in the coming weeks, according to a Financial Times report citing diplomatic sources. The move could strain Kyiv’s economy during a critical phase of its war against Russia. The FT reports that the EU’s new proposal, circulated to member states, would severely reduce tariff-free […]
The National Company Law Tribunal (NCLT) has adjourned its hearing on a petition filed by Sanjay Singhal, former promoter of Bhushan Power & Steel Ltd (BPSL), to June 26. Singhal approached the tribunal seeking enforcement of the Supreme Court’s recent ruling, which quashed the ₹19,700 crore resolution plan proposed by Sajjan Jindal-led JSW Steel and […]
Pakistan and Russia have agreed to establish a new steel mill in Karachi [1], marking a significant step in strengthening bilateral ties and expanding industrial collaboration. The agreement was finalized during a meeting between Russian representative Denis Nazaroof and Special Assistant to the Prime Minister (SAPM) Haroon Akhtar Khan, where both sides engaged in extensive […]
Shares of major Indian steel companies, including Tata Steel, SAIL, JSPL, and JSW Steel, saw notable gains [1] in Wednesday’s morning trades, following India’s firm stance against U.S. tariffs at the World Trade Organization (WTO). Tata Steel led the rally, with its share price opening at ₹151.20, slightly above the previous day’s close of ₹149.50, […]
Lockheed Martin (NYSE: LMT) and Arabian International Company for Steel Structures (AIC Steel) have celebrated a major milestone [1] in their collaboration on the Terminal High Altitude Area Defense (THAAD) Weapon System. The achievement marks the completion of the first locally-produced components for the THAAD launcher, strengthening Saudi Arabia’s defense industrial capabilities. Lockheed Martin Missiles […]
Union Steel and Heavy Industries Minister H. D. Kumaraswamy on Tuesday stressed the need for intensified research to curb pollution in the steel sector while reviewing the performance of his ministries. He also urged the Heavy Industries Ministry to boost domestic electric vehicle (EV) manufacturing, emphasizing greater support for local production. According to an official […]
A new development in stainless steel technology has been said to have the potential to transform global green hydrogen production, making clean energy more affordable and sustainable. This innovation could significantly reduce costs and enhance the efficiency of generating hydrogen using renewable energy sources. Scientists at the University of Hong Kong, headed by Professor Mingxin […]
Iran’s steel industry recorded a mixed performance [1] in the first month of 2025, with steel product output declining while crude steel production saw an increase, according to the latest data from the World Steel Association (WSA). Steel product output stood at 1.812 million tons, reflecting a 1.2% year-on-year decline compared to 1.851 million tons […]
India has announced plans to impose countervailing duties on U.S. imports in accordance with WTO regulations, responding to America’s steel and aluminum tariffs implemented as protective measures. A WTO notification reveals these U.S. trade restrictions affect approximately 7.6 billion worth of Indian exports, potentially generating about $1.91 billion in tariff revenues. In April, India initiated WTO […]
As part of its commitment to decarbonize operations in Oman and shift toward renewable energy, Vale in Oman has signed a Head of Agreement (HOA) with OQ Alternative Energy (OQAE) during Oman Sustainability Week. This agreement outlines a collaborative framework to develop renewable energy solutions for Vale’s pelletizing plant in Sohar Port, while also supporting future energy requirements for the planned Green Metallic Mega […]
Tata Steel shares gained momentum ahead [1] of the company’s March quarter earnings announcement, scheduled for May 12. At 10:30 am, the stock was trading at ₹147.97 per share on the National Stock Exchange (NSE), reflecting a 3.47% increase. In a May 8 exchange filing, the Tata Group firm confirmed that its board would convene […]
The Netherlands-based Oryx Stainless Group, a supplier of recycled stainless steel raw materials, recently inaugurated its new facility in Johor, southern Malaysia. The company stated that this plant will enhance the global circular economy for stainless steel. “The site reinforces the region’s position as a strategic hub for sustainable industrial growth,” states Oryx. The company […]
Nippon Steel has reaffirmed its position [1] on the planned acquisition of US Steel, stating that its intention to take full ownership remains the foundation of ongoing negotiations with the U.S. government. The Japanese steel giant emphasized that it continues to present a variety of proposals in discussions with U.S. authorities, as the review process […]
According to a senior official from the country’s ruling party, Zimbabwe’s iron and steel industry is undergoing a revival [1], driven by increased production from Dinson Iron and Steel Company (DISCO), a Chinese-invested firm. Christopher Mutsvangwa, a politburo member and spokesperson for the Zimbabwe African National Union-Patriotic Front, highlighted the growing steel exports and their role in […]
Global steel and mining leader ArcelorMittal has begun delivering renewable energy to AMNS India in Gujarat, sourced from its 1-gigawatt (GW) hybrid solar and wind power facility in Andhra Pradesh. The $700 million project was developed, built, and operationalized by AM Green Energy, a fully-owned subsidiary of ArcelorMittal. The company stated that, “the largest renewable […]
Spanish steelmaker Acerinox reported an 81% decline in first-quarter [1] net profit compared to the same period in 2024, citing weak stainless steel demand in Europe and ongoing global trade uncertainties. The company posted a net profit of 10 million euros ($11.28 million) for the quarter, a sharp drop from 53 million euros a year […]
British Steel has announced plans to recruit more than 180 new employees [1] as it prepares to increase iron and steel production, marking the first significant expansion since the UK government intervened to prevent the shutdown of its blast furnaces. The company is hiring 165 workers in Scunthorpe and an additional 17 across its Teesside […]
According to UK based research firm’s recent reports by IDTechEx [1], Hydrogen-powered steel production may remain out of reach for more than a decade unless significant cost reductions and infrastructure advancements are made. Despite hydrogen-based direct reduced iron (DRI) projects leading the green steel transition in regions such as Europe, the Middle East, the US, […]
Global law firm Baker McKenzie [1] has advised Van Merksteijn Steel Group in its merger with Südwest Beteiligungen, a strategic move that strengthens the newly formed Reinforcing Steel Europe B.V. (RSE) as a leading producer and processor of reinforcing steel across Europe. The headquarters of RSE will be based in Almelo, the Netherlands. The merger […]
The Indian Finance Ministry has expressed support [1] for banks planning to challenge the Supreme Court’s recent decision that overturned JSW Steel’s ₹19,700-crore acquisition of Bhushan Power and Steel (BPSL). The ruling cited violations of the Insolvency and Bankruptcy Code (IBC), prompting lenders to argue that the court should have given greater weight to the […]
The sustainability of South Africa’s steel industry [1] faces significant challenges, with government intervention now seen as essential to ensuring long-term competitiveness and economic stability. ArcelorMittal South Africa’s recent decision to close its Longs Business has underscored the need for policy-driven efforts to stabilize the sector. A strong steel industry can drive economic growth, create […]
Thyssenkrupp’s steel division announced on Wednesday that it has reached a preliminary agreement with the IG Metal union regarding the restructuring of Germany’s largest steel producer. The company emphasized its commitment to avoiding forced layoffs and cuts as part of the plan. Thyssenkrupp stated that the agreement comes after its earlier announcement of plans to […]
A steelmaking association representing producers in Malaysia and neighboring ASEAN (Association of Southeast Asian Nations) countries has indicated that rising steel imports and perceived unfair trade practices are harming the profitability of regional steel producers. South East Asia Iron and Steel Institute (SEASAI) claims that Malaysia’s Ministry of Investment, Trade, and Industry is overlooking the […]
India’s Tata Steel has announced a US$1.18 billion investment to expand iron ore production across its Noamundi, Joda, and Katamati mines, aiming to boost annual output from 40 million tons to 55 million tons. The company’s General Manager for Ores, Mines & Quarries (OMQ), Atul Bhatnagar, emphasized Tata Steel’s commitment to strengthening its raw material […]
Turkey has significantly reduced its recycled steel imports from the United States in early 2025 while increasing its reliance on Russian shipments, signaling a shift in trade dynamics. SteelData reports that Turkish imports of U.S. ferrous scrap dropped by 23% in the first quarter compared to the same period in 2024. This decline coincides with […]
Kingspan Group has partnered with Hydnum Steel to launch a new green steel initiative, focused on reducing carbon emissions in the construction industry and advancing sustainable building materials. Under the collaboration, Hydnum Steel will supply Kingspan with green steel, fortifying their commitment to encourage the use of green steel in construction, supporting the steel industry’s […]
Danieli patented the Twin Drum as the 120th technology solution for the long product rolling. This system integrates Twin Channel technology with a roller table featuring aprons, enabling the transfer of bars ranging from 8 to 40 mm in diameter into the cooling bed at speeds of up to 60 m/sec. Danieli will modernize the […]
United States Steel Corporation has reported its financial results [1] for the first quarter of 2025, revealing a net loss and a decline in revenue compared to the previous year. The company, a significant player in the steel industry, has encountered various operational challenges and market conditions affecting its financial performance. For the first quarter […]
The government is currently evaluating the Supreme Court’s [1] recent decision that nullified JSW Steel’s ₹19,700 crore resolution plan for Bhushan Power and Steel Ltd (BPSL), according to the Department of Financial Services (DFS). Officials are expected to finalize their approach to the verdict soon. “We have already reviewed the ruling alongside all involved lenders. […]
LKAB’s green transition initiatives have received approval from the Swedish National Audit Office, but it is still uncertain whether the efforts will be financially viable. For a year, the Swedish National Audit Office has investigated the state-owned company Luossavaara-Kiirunavaara Aktiebolag (LKAB)’s green transition of its business. The mining giant LKAB has extracted iron ore in […]
A delegation headed by His Excellency Dr. Sultan Al Jaber, UAE Minister of Industry and Advanced Technology and Chairman of Masdar, along with CEO Mohamed Jameel Al Ramahi, visited TERNA ENERGY’s headquarters in Athens and engaged with employees from various departments, holding strategic discussions with the company’s Executive Chairman Georgios Peristeris, marking their first since […]
India’s Supreme Court on Friday rejected JSW Steel’s [1] resolution plan to acquire Bhushan Power and Steel, ordering the liquidation of the debt-ridden firm four years after the takeover was completed, according to lawyers involved in the case. The court’s decision marks a significant setback for JSW Steel, India’s largest steelmaker by capacity, which had […]
Steel pipe prices in Russia have fallen to their lowest levels [1] in two years, driven by weak domestic demand and excess production capacity. By mid-April, water and gas pipes were priced at RUB 64,600 per ton, the lowest since July 2023, while electric-welded pipes dropped to RUB 63,300 per ton, their lowest since March […]
Vice President JD Vance visited Nucor Steel’s South Carolina plant [1] on Thursday, highlighting what he called an “industrial renaissance” fueled by the Trump administration’s push for domestic manufacturing. Speaking before hundreds of steelworkers and industry leaders, Vance praised the resilience of the U.S. steel sector, emphasizing its vital role in infrastructure and national security. […]
SSAB, a Nordic and U.S.-based steel manufacturer, aims to create a stronger, lighter, and more sustainable world with its value-added steel products and services. The company has secured €2.3 billion in green financing to support its transformation project, which includes constructing a cutting-edge, fossil-free mini-mill in Luleå, Sweden. SSAB states that this transformation project is […]
India’s largest steelmaker, JSW Steel, is facing setbacks [1] in its efforts to source coking coal from Mongolia due to unresponsive suppliers and logistical constraints, sources familiar with the matter revealed. The company had planned to import 2,500 metric tons from Mongolia, while the state-run Steel Authority of India Limited (SAIL.NS) sought a larger shipment […]
Pact signed to Drive Energy Efficiency in Oman’s Industrial Hubs Today, the Public Authority for Special Economic Zones and Free Zones (OPAZ) signed a Memorandum of Cooperation (MoC) with OQ Alternative Energy (OQAE) to launch an Energy Excellence Programme, as part of their efforts to reduce carbon emissions in economic zones, free zones, and industrial […]
Primegold Steel & Power has been a part of the wind power sector, alongside long-term renewable energy contracts and solar power. The company’s continued investment in clean energy accelerates its transition to sustainable operations and eco-friendly steel manufacturing. Primegold Steel & Power Ltd has been changed to Primegold International Ltd, marking a decisive shift toward […]
Mexico’s steel producers have urged the country’s Ministry of Economy (SE) to remove finished steel products [1] from the tax-exempt temporary import program, Immex, in an effort to protect the sector from unfair competition, industry sources report. The proposal is part of broader negotiations with the U.S. administration, aimed at securing an exemption from the […]
Iran’s steel production saw a modest recovery [1] in March, rising 3.7 percent compared to the same month last year, according to the World Steel Association’s (WSA) latest report on global output trends. The uptick helped offset the country’s consecutive declines in January and February, though overall quarterly production remained subdued. WSA’s monthly analysis highlighted […]
SSAB, the Swedish steel producer, saw a significant drop in earnings in Q1 but still exceeded analyst estimates, as its high-value specialty steel products mitigated the impact of lower prices and reduced demand in broader markets. The company stated that its facilities’ proximity to customers in Europe and the United States has shielded it from […]
Spain has approved a €60 million grant [1] from EU funds to support the construction of a hydrogen-powered steel mill, recognized by the World Economic Forum as one of the most significant industrial decarbonization projects worldwide. This initiative, led by Hydnum, represents a crucial step toward advancing low-carbon steel production in the country. Hydnum was […]
Electra, a Colorado-based clean iron startup, has successfully raised [1] $186 million in its Series B funding round, marking a major step toward advancing sustainable steel production. The investment, led by Temasek Holdings and Capricorn Investment Group, will support Electra’s efforts to commercialize its innovative ironmaking process, which aims to reduce carbon emissions in the […]
According to an official statement, Waleid Gamal El-Dein, Chairman of the General Authority for the Suez Canal Economic Zone (SCZone), has laid the foundation stone for Chinese Xinfeng’s integrated steel industrial complex in Sokhna. The total investment in the project amounts to $1.65 billion. The project covers an area of 3.75 million square meters and […]
2-day discussions on the international Steel industry As the global steel demand has always been voracious, there has been a huge necessity to keep in mind various ways to reduce carbon emissions that are associated with its production. Around 75% of steel is still largely made in coal-fired blast furnaces, which release a large amount […]
Brazil’s steel import surge shows no signs of slowing [1] , with April figures potentially surpassing March’s historic levels. According to the National Institute of Steel Distributors (INDA), the country’s flat steel imports already set a record last month, and expectations point to continued growth. Carlos Loureiro, president of INDA, warned that more than half […]
Iron ore futures fall as speculation mounts over China’s possible steel production cuts [1], sparking unease in global commodity markets. Mixed signals on US-China trade relations compound the uncertainty, leaving investors wary of broader economic implications. On the Dalian Commodity Exchange, iron ore prices dipped 0.7% to 709 yuan per metric ton, while Singapore’s May contract slipped […]
Baosteel forecasts a decrease in steel exports and weaker domestic consumption in 2025, though the exact timing and magnitude are unclear. This comes despite the company’s recent profit growth. The company, Baosteel, a subsidiary of the state-owned China Baowu Steel Group, is known to be the world’s largest steelmaker by output. China’s biggest listed steelmaker, Baoshan […]
India’s steel industry must secure annual investments [1] between ₹150,000 to ₹200,000 crore over the next two decades to scale production capacity from 200 million tonnes to 500 million tonnes by 2047, according to Jayant Acharya, Joint MD & CEO of JSW Steel. He stressed that this unprecedented financial commitment is essential to support rising […]
India’s coking coal imports [1] are expected to accelerate as the country ramps up steel production capacity, Steel Secretary Sandeep Poundrik said on Friday, citing limited domestic availability of the key steelmaking ingredient. The country’s coking coal imports, currently at approximately 58 million tons, are projected to rise to 160 million tons by 2030. This […]
In the first quarter of 2025, recycled steel observed three months of increasing prices. However, during the April purchasing period, U.S. steel mills paid $19 to $51 less per ton for benchmark grades compared to previous levels. According to transaction data compiled by MSA Inc.’s Raw Material Data Aggregation Service (RMDAS) in Pittsburgh, prices declined across […]
Despite volatility in global zinc prices driven by uncertainty over U.S. tariffs, Hindustan Zinc anticipates strong growth in fiscal 2026, a top company executive said to Reuters on Friday. The outlook follows the miner’s report of a significant rise in quarterly profit. CFO Sandeep Modi said that the Zinc prices have fluctuated between $2,500 and […]
Turkiye’s crude steel production declined [1] by 2.8 percent in March compared to the same month last year, falling to 3.1 million tons, according to data from the World Steel Association (worldsteel). During the first four months of 2025, output dropped 3.4 percent year-on-year to 9.3 million tons, ranking Türkiye as the seventh largest steel […]
India’s Prime Minister Narendra Modi on Thursday urged India’s steel sector to reduce reliance on imports and transition toward becoming a net exporter, [1] emphasizing its critical role in the country’s ambition for a developed India, or Viksit Bharat. Speaking virtually at the India Steel 2025 conference, PM Modi outlined a transformative vision for the […]
Colorado-based Electra has raised $129 million to fund the next round to develop the technology to produce iron for steel. The technology is set at temperatures below boiling water and without planet-warming emissions. The startup emerged from stealth mode in 2022 and has since secured $214 million in funding from prominent investors, including Breakthrough Energy […]
France and other European countries will advocate for protection to shield the European steel industry against Chinese imports, French government spokesperson Sophie Primas said on Thursday. The statement came in response to steel giant ArcelorMittal’s decision to cut approximately 600 jobs across seven facilities in France, citing the ongoing struggles within Europe’s steel sector. “We […]
In a strategic effort to support steel manufacturers in Nigeria, the Lagos State Government has reaffirmed its dedication to working alongside the Federal Government to enhance the sector. Governor Babajide Sanwo-Olu acknowledged the challenges posed by unreliable power supply on steel production and pledged full cooperation with the Ministry of Steel Development to drive necessary […]
British Steel has halted its consultation on potential redundancies affecting up to 2,700 workers at its Scunthorpe plant, following the government’s takeover of the company earlier this month. Jingye, the Chinese firm that acquired British Steel in 2020 with promises of a “new chapter,” had previously announced plans to shut down Scunthorpe’s two blast furnaces. […]
Clariant, a sustainability-focused specialty chemical company, has renewed its collaboration [1] with Midrex, a global leader in direct reduced iron (DRI) technology, to advance low-carbon steel production. The renewed partnership aims to enhance DRI technology, which offers a cleaner alternative to conventional coal-based ironmaking. DRI technology enables the direct reduction of iron ore without melting, […]
A steel factory in Chonburi, a province in Thailand, jointly owned by a Chinese firm, has been caught illegally resuming operations [1] despite a government-issued suspension order. A special taskforce from Thailand’s Ministry of Industry discovered the violation during an inspection, resulting in the seizure of 582 tonnes of substandard steel bars worth approximately 11.53 […]
