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...

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...