This partnership is a key step in BYD's European localization strategy Chinese car manufacturer BYD has signed a strategic cooperation agreement with leading European steel producer voestalpine, according to SMM. Under the agreement, voestalpine will supply steel products to BYD’s future passenger car plant in Szeged, Hungary. This partnership is a key step in BYD’s European localization strategy, reinforcing its commitment to building a reliable regional supply chain. According to BYD Vice President Stella Li, the company’s ambitions in Europe go far beyond selling cars. “We hope that within five years, European consumers will regard BYD as a true European manufacturer—and our Hungarian plant is at the heart of that vision. I’m delighted to work with voestalpine, a company with a long legacy of innova...

Cleveland Cliffs implements a substantial price increase following the introduction of new tradepolicies that have fundamentally altered market conditions. On June 16, 2025, Cleveland-Cliffsannounced its latest pricing strategy, setting the Cliffs HR Market Price at $950 per ton for Julyspot orders, representing a notable $40 per ton increase from the previous month's pricing of $910 per ton. This strategic pricing adjustment comes at a pivotal moment when the implementationof 50% steel and aluminum tariffs is reshaping competitive dynamics across the North American steel market. Steel industry News Podcast 09: Cleveland-Cliffs and Nucor Raise Prices as 50% Tariffs ReshapeMarket Dynamics by Steel Industry News The announcement, delivered by Michael J. Hrosik, Senior Vice President of Commercial atCleveland-Cliffs Steel, reflects the company's resp...

The Forging Market is being driven by Advantages of forging over other fabrication techniques The Forging Market is expected to grow at a CAGR of 6.8% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 44.7 billion. In the current business landscape, forging techniques remain a crucial aspect of manufacturing components and parts in sectors such as automotive, aerospace, and healthcare. Automation is a key driver for achieving both high productivity and flexibility in production, particularly in large-scale forging operations. Automated forging processes enable swift changeovers between batches, increased production volumes, and enhanced manufacturing tolerances, resulting in superior product quality. Recent advancements in robotics technology have brought about significant benefits for designers of high-volume forging li...

Indian hot and cold rolled coil export activity continues to be slow to the EU market, with prices remaining unchanged week-on-week, Kallanish learns from sources. Slow EU sales are being driven by weak demand, lack of buyer interest, limited export material allocation by Indian mills, and a post-Labour Day holiday slowdown due to extended holidays. Indian mills have been prioritising the domestic market due to better price realisations since April. India also remains absent from the Gulf Cooperation Council market for similar reasons. As of 6 May, India-origin HRC offers were unchanged week-on-week at $650-660/tonne cfr Antwerp or Bilbao ports, or $595-605/t fob Mumbai, for S235 grade HRC, June/July shipment. Prices could be negotiated down to $640/t cfr. Comparatively, other Asian-origin offers to the EU ranged between $570-580/t cfr E...

Global steelmaker ArcelorMittal has announced a €30/t price increase for steel coils in Europe, effective for shipments in April, Kallanish reports, citing market sources. The company’s production facilities in Europe are currently at full capacity, and orders for the first quarter have already been placed. In the new quotas, the price of hot-rolled coil is set at €660/t (base delivered), while galvanized coil will rise to €780/t. Factors contributing to the price increase include import restrictions in the EU, which are forcing buyers to look for products on the domestic market. Some European countries have also seen an improvement in demand, which supports the growth of quotations. Meanwhile, the review of EU safeguards on steel imports continues. The EUROFER Association has submitted recommendations to the European Commission to ti...

Happy Forgings Ltd announced on Monday that it will invest Rs 650 crore to set up a state-of-the-art manufacturing facility aimed at catering to the non-automotive industrial sector. The company’s board has approved the capital investment, which will be used to develop advanced forging capabilities. Happy Forgings Ltd (HFL) specializes in manufacturing complex, safety-critical, heavy-forged, and high-precision machined components. HFL’s Managing Director, Ashish Garg, stated that this substantial investment will enhance the company’s ability to produce heavyweight components, helping it expand its presence in the industrial sector. “This initiative supports our plan to tap into a market with limited suppliers, focusing on precision-engineered, large-sized components. We expect this investment to drive our growth, increase profitability, a...