A 30% duty on imports from Europe threatens supply chains for EAF steel mills The proposed 30% tariff on imports from Europe to the US could deal a serious blow to the supply chains of ferrous scrap for American steel producers using electric arc furnaces (EAFs). This was reported by Argus.Media. The Netherlands, Poland, and Sweden are among the key suppliers of high-quality scrap to the US. According to US Customs, 222,000 tons of scrap were imported from the EU in January-May 2025, accounting for almost a third of the total volume, which is 94% more than in January-May 2024. At the same time, a 10% duty on imports of iron-bearing raw materials from Europe was introduced in early April, but its impact on the market has so far been limited. The new tariffs could significantly reduce supply volumes. This decision follows the announced 50% duty on ...

The government will also change its procurement rules and support the industry's transition to new business areas Canada is strengthening its steel import tariff quota system to mitigate the impact of US tariffs on its steel industry. The relevant measures were announced on the Canadian government’s website. As noted, Canadian steel producers are export-oriented and therefore vulnerable to changes in international trade policy. In 2024, they exported just over 50% of their annual production, with 90% of these volumes going to the United States. Growing trade pressures and market disruptions require a clear and proactive response. In order to help domestic producers who are suffering from US tariffs imposed in this sector, Canada will reduce the duty-free volume of steel imports into the country. Starting 1 August 2025, imports from countries that have a ...

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...