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The European steel industry considers the current period to be the worst for it since the financial and economic crisis of 2009. European steelmakers continue to lobby for the sector’s interests at the EU level. On October 23, the issue of the crisis in the industry, which has been publicly raised in recent months, was discussed during a plenary debate in the European Parliament. How to save the steel industry – read here🔽 #GMKCenter #Ukraine #steelmakers #steel #EU #Europe #metals #industry #globalsteel #war #CBAM #energy #electricity #markets #trade #export #import #greensteel #investments #decarbonisation #CO2 #carbon #emissions

US Steel Corporation, one of the largest steel producers in the United States, has announced an increase in spot prices for flat products by $30 per short ton. The increase came into effect on October 25 this year and applies to products manufactured at both US Steel and Big River Steel. The adjustments are applied to agreements under negotiation and initial proposals that have not yet been finalized. Additional fees and fuel surcharges remain in effect. As of October 25, prices for hot-rolled flat products in the US were at $690-700 per short tonne, and for cold-rolled flat products at $960-1000 per tonne. Quotes remained unchanged from the previous week. At the same time, the market is likely to adjust this week amid rising prices from US Steel. Nucor and Cleveland-Cliffs may take similar actions. In October, prices for hot-rolled steel in the US fell for the first time after a long gradual increase since July. Supply declined amid market uncertainty. Although demand is sufficient, consumers are not confident about the need to build up significant stocks for November-December. Read more here🔽 #GMKCenter #Ukraine #steelmakers #steel #metals #prices #USA #markets

In January-September 2024, Ukraine increased the import of long rolled steel by 12.3% compared to the same period last year – to 130.64 thousand tons. In September 2024, 13.87 thousand tons of long rolled products were sent to the Ukrainian market. The largest suppliers were: Türkiye, Poland, China, Moldova. Read more here🔽 https://lnkd.in/de7xQtYn #GMKCenter #Ukraine #steelmakers #steel #war #import #longrolledsteel #metals #shipments #logistics #markets #energy

In September this year, Kazakhstan increased steel production by 5.7% compared to August and by 14.6% year-on-year – to 362.6 thousand tons. In 9 months of 2024, steel production in the country amounted to 3.15 million tons, up 10% year-on-year. Flat products production in September increased by 13.2% m/m and 1% y/y – to 222.8 thousand tons. For the first nine months of the year, these volumes amounted to almost 2.26 million tons (+21.2% y/y). Read more here🔽 #GMKCenter #Ukraine #steelmakers #steel #metals #Kazakhstan

China’s steel exports in 2025 are expected to reach 90-100 million tons, down from 110 million tons forecast for 2024. Despite the expected decline in exports, the figure will remain at record levels as local steelmakers struggle to cope with overcapacity and weak domestic demand. Domestic steel consumption in China has weakened in recent years amid economic instability and problems in the real estate sector. At the same time, steel production has been stable, leading to oversupply. Local steelmakers have been exporting these volumes at competitive prices, which they can afford due to lower production costs. This led to a sharp increase in exports from the country to the highs of 2014-2016. In particular, in 2023, the volume reached 90.3 million tons, and in the first 9 months of 2024 – 80.7 million tons (+21.2% y/y). In 2025, China is likely to maintain record export volumes, driven by improving global steel demand. The country’s key steel companies, including Baoshan Iron & Steel, have also announced their intention to increase shipments. “The low cost of Chinese steel and rising demand from Southeast Asia, MENA and India will pose risks to the growth of steel exports from China in 2025 and beyond,” said Lawrence Zhang, Principal Consultant, Steel and Commodities, Wood Mackenzie. At the same time, the rapid growth of China’s steel exports has prompted complaints from a number of countries, including Turkey and Indonesia, which have already imposed anti-dumping duties to protect local producers. In total, 28 trade lawsuits were filed against Chinese steel in 2023. “This trend will continue and intensify in 2025,” added Lawrence Zhang. Although Chinese steel and export groups warn that trade disputes and a stronger currency will hamper exports in 2025, analysts and traders believe that one way or another, Chinese producers will find a price level that will allow them to export. Read more here🔽 #GMKCenter #Ukraine #steelmakers #steel #China #metals #export #import #markets #prices #forecast

In September 2024, Spanish steel companies increased steel production by 16.5% compared to the previous month, to 990 thousand tons. Thus, the country ranked 16th in the global ranking of steel producing countries. In January-September 2024, Spain increased steel production by 3.4% compared to the same period in 2023, to 8.88 million tons. Read more here🔽 https://lnkd.in/dqgPq9Mc #GMKCenter #Ukraine #steelmakers #steel #metals #Spain #EU #Europe

Global stainless steel production in January-June 2024 increased by 6.3% compared to the same period in 2023 to 30.37 million tons. During this period, Europe, including Ukraine, increased its stainless steel production by 0.3% compared to the first half of 2023 – up to 3.14 million tons. The United States increased by 9% y/y over 6 months to 1.03 million tons. China produced 18.75 million tons of stainless steel in the same period. Read more here🔽 https://lnkd.in/d4FmZ_Mx #GMKCenter #Ukraine #steelmakers #steel #metals #markets #globalsteel

Italian steelmaker Acciaierie d’Italia (ADI) and DRI d’Italia, a subsidiary of the state investment agency Invitalia, have signed a memorandum of understanding to build a direct reduction plant (DRI) at the Taranto site. According to the project, the new DRI plant will have a production capacity of 2.5 million tons per year. It will also include infrastructure for iron ore storage and transportation. However, the new construction is likely to require some adjustments to the structure of the existing production site. The costs of this, which are yet to be specified, will be covered by public funds in the amount of €1 billion. According to ADI, the memorandum of understanding is an important step towards decarbonization, which will be completed by the buyer of the complex. On October 15, 2024, Acciaierie d’Italia resumed operation of blast furnace No. 1 at its Taranto facility. As the company said in a statement the day before, this is an important step in ADI’s recovery plan and confirms the commitment of the special commissioners, the Italian government and the company to continue to restore production at the steel plant. Read more here🔽 #GMKCenter #Ukraine #steelmakers #steel #DRI #iron #ore #mining #project #investments #EU #Europe #Italy #decarbonization #CO2 #carbon #emissions #metals #blastfurnace

CBAM is a game changer for international trade. Introducing CBAM the EU gave new impetus to “green” agenda – countries and companies are reviewing their climate goals to continue trade relations with the EU. Unlike the Paris Agreement, which is more declarative in nature, CBAM is a real instrument which can facilitate preventing climate changes. However, its design is not perfect, and we understand why – EU CBAM is a first kind of such instrument. European authorities said that CBAM would level the playing field for European producers and importers. But is it possible to reach this goal by increasing payments for imports? I am not sure. Told Stanislav Zinchenko, GMK Center CEO. Read here🔽 https://lnkd.in/dUqxB8EW #GMKCenter #Ukraine #steelmakers #steel #metals #EU #Europe #CBAM #export #import #markets #climate #trade #decarbonization #CO2 #carbon #emissions #ETS