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Chinese steel furnaces temper output in May
Although steel output in China fell by nearly 7 percent year on year this May, the nation produced 600,000 metric tons more steel compared with the prior month.
Overseas issue puts lid on prices
However, steelmaking statistics from the first four months of this year point to a largely stable melt shop situation in the U.S.
Global steel output drops in April
After a March spike, Chinese furnaces cut production in April by nearly 7 million metric tons.
RMDAS tracking shows $40 ferrous price drops in May
Mills in the United States have been able to buy recycled steel for up to $50 per ton less in May compared with April.
Turkey neglects US scrap in favor of Russian shipments
While U.S. recycled steel shipments to Turkey fell by 23 percent in the first quarter, that nation’s mills more than doubled their purchases of Russian ferrous scrap.
Global steel output tapers downward
Steelmakers worldwide decreased their output this February by 3.4 percent compared with February 2024 and by 4.4 percent compared with this January.
Hyundai says it will make steel in the US
At a press event with President Donald Trump, the South Korean conglomerate says $21 billion in U.S. investments will include a new steel mill.
Global steelmakers start off 2025 at slower pace
Steel mills produced 4.4 percent less steel worldwide this January compared with one year ago.
Stainless production on upward trajectory
Worldstainless says melt shops globally boosted output by more than 5 percent in the first three quarters of 2024 compared with the year before.
Global steel output down slightly in 2024
Output in nations reporting to the World Steel Association dropped by 0.9 percent last year compared with 2023.