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...

Recently, Shanxi Fulida Technology Co., Ltd. (hereinafter referred to as "Fulida") has signed strategic cooperation agreements with Shijiazhuang Aolian Colorful Steel Sheet Co., Ltd. (hereinafter referred to as "Aolian") and Hebei Henghui Steel Co., Ltd. (hereinafter referred to as "Henghui"), receiving authorization from both companies to become their exclusive agent and distributor in the Russian market. This cooperation marks a new chapter as the three parties join hands to develop the Russian steel market together.   According to the agreements, Fulida has obtained exclusive sales rights from both Aolian and Henghui throughout Russia, representing products including hot-rolled coils, cold-rolled coils, galvanized coils, and steel sections, covering multiple well-known brands such as Puyang, Ruifeng, and Jinxi. The authorization period is from Ju...

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...