Amid declining demand from China and rising production, iron ore prices will continue to fall until 2027 Australia forecasts a decline in iron ore export revenues from $116 billion in the 2024-2025 fiscal year to $97 billion in 2026-2027. This is stated in the country’s government’s June Resources and Energy Quarterly report. The main reasons for the decline are weak global demand for steel, reduced production in China, and gradual market saturation from Brazil and Africa. The report notes that FOB iron ore prices (62% Fe) will fall on average from $93 per ton in 2024 to $83 in 2025 and $74 in 2027. At the same time, China, the largest importer, is reducing steel production due to falling plant profitability and weak demand in the real estate market. In the first five months of 2025, steel production in China fell by 1% year-on-year. Against th...

The Japanese company will receive two subordinated loans to repay loans and partially finance the $14.9 billion deal Japanese steelmaker Nippon Steel has announced that it will raise 800 billion yen (about $5.6 billion) through two subordinated loans to partially finance the $14.9 billion acquisition of U.S. Steel and refinance previous debt obligations, Reuters reports. According to the company’s statement, 500 billion yen will be used to partially repay a 2 trillion yen tranche loan that Nippon Steel secured in June to finance the deal. Another 300 billion yen will be used to refinance a previously obtained subordinated loan of 450 billion yen. The 500 billion yen tranche will be financed by September 18 by Japan’s largest banks: Mitsubishi UFJ Financial Group, Sumitomo Mitsui Financial Group, Mizuho Financial Group, as well as Sumit...

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...