Ill-conceived public policy has created obstacles to the green transition The UK economy is steadily moving towards zero CO2 emissions. Against this background, its steel industry looks like a clear outsider. However, this is not the fault of local steel companies. The rules of the game are dictated by the state. That is why the British case looks like an example of how NOT to decarbonize the steel industry. A problematic transition Last year was a historic year in the British energy industry. At the end of September, the Ratcliffe-on-Soar power station in Nottingham – the last coal-fired thermal power station in the country – closed. Wind for the first time became the largest source of electricity (ee) generation, with its share in the energy mix growing by 2% year-on-year. This means that steel companies can significantly reduce greenhouse gas emissi...

High logistics costs in addition to rising energy prices and tariffs lead to losses for companies in the industry The importance of logistics for Ukrainian steel industry in the current conditions is that the production activity of enterprises depends on the openness of key routes. Steel companies are not ready in the current conditions to work «for a warehouse». In addition, logistics is now one of the largest components in the price of finished products, so the cost of transportation costs is taken into account when deciding on the economic feasibility of exports and production in general. That is why steel companies now more than ever are fighting for every dollar of production cost and are looking for opportunities to optimize logistics costs and routes. GMK Center tells about the current situation in the iron and steel cargo transportation sector. Situation in...

The postponement was the expected outcome of the latest round of negotiations in Stockholm The United States and China on August 11 extended their tariff truce by another 90 days, deferring triple-digit duties on each other’s imports. Reuters reports. U.S. President Donald Trump announced on his Truth Social platform that he had signed an order suspending the introduction of higher tariffs until November 10, while all other elements of the truce remain in effect. On the morning of August 12, the Ministry of Commerce of China announced a parallel pause in the application of additional duties. The extension of the truce prevents U.S. tariffs on Chinese goods from rising to 145%, while Beijing’s tariffs on U.S. products were set to reach 125%. Such rates would have effectively resulted in a trade embargo between the countries. The new...

The company announces a price increase for the second consecutive month Baoshan Iron & Steel (Baosteel), a subsidiary of China Baowu Steel Group, is increasing its prices for hot-rolled coil (HRC) by 200 yuan per tonne ($27.8/t) for domestic sales in September. This was reported by Kallanish. The company is announcing a hike in its list prices for HRC for the second consecutive month. Baosteel raised them by 100 yuan/t for local sales in August. The same increase – 200 yuan per tonne ($27.8/t) – applies to plate. In addition, higher prices were announced for hot-dip galvanized coil and cold-rolled steel – they rose by 300 yuan/t ($42/t). According to market analysts, Baosteel’s price adjustment reflects expectations of an imminent end to the off-season, when consuming companies will begin to accumulate stock. For four consecutive...

The institution has published the final results of the anti-dumping investigation The European Commission (EC) has announced the final results of the anti-dumping investigation into imports of hot-rolled steel (HRC) from Egypt, Japan, and Vietnam. The rate for Ezz Steel and all other Egyptian companies was reduced to 11.7% (the previous rate, effective for this manufacturer since April 7, 2025, was 12.8%). Initially, the EC proposed a duty of 15.6% for Ezz, but after an appeal, the decision was changed. The final anti-dumping margin for Japan’s Nippon Steel is set at 30.4%, for Tokyo Steel at 6.9% and 30.1% for all other Japanese exporters. The anti-dumping duty for Vietnam’s Formosa Ha Tinh Steel and all other Vietnamese companies will be 12.1%. The preliminary anti-dumping duties imposed on April 7 were 42.5% for Nippon Steel...

The market continues to be dominated by low demand for finished rolled products and negative effects from US tariff policy In July, regional markets saw a predominantly downward trend in slab prices. The key influencing factors remain weak export demand in many regions and US tariff policy. The average export price of Brazilian slabs continued to decline in July, falling to $470/t from $482/t at the end of June (FOB terms). Brazilian slabs became cheaper amid expectations of the introduction of duties on Brazilian imports. From August 7, the US will impose a cumulative 50% duty on goods produced in Brazil. The likelihood of this rate being revised now seems minimal, as the Brazilian authorities have taken an aggressive stance towards US trade attacks. At the same time, semi-finished products and finished steel from Brazil are already subject to a 50% US tari...