THE BLOG
March 12, 2025
Spain is one of the leading steel producers in Europe, with a well-established industry that plays a crucial role in the country’s economy. The steel sector in Spain has seen significant growth in 2024, with a steady increase in production volumes, reflecting the strong demand for steel in construction, automotive, and manufacturing industries.
Recent reports indicate that Spanish steelmakers have increased production by 3.3% year-on-year (y/y) in 2024, showcasing the resilience and adaptability of the industry. Additionally, January 2025 witnessed a 17.8% month-on-month (m/m) increase in steel output, indicating strong momentum in the sector.
March 9, 2025
The global steel industry is undergoing a transformation, shifting towards greener and more sustainable production methods. As environmental concerns grow and carbon emissions become a major issue, industries worldwide are looking for ways to reduce their carbon footprint. Malaysia is no exception. The country is now making significant strides in developing a green steel industry, backed by partnerships, government initiatives, and sustainable energy solutions.
One of the most recent and impactful developments in this sector is the collaboration between Petronas and Sabah Energy Corporation (SEC) to advance green steel production in Malaysia. This partnership signifies a commitment to decarbonizing the steel industry by leveraging cleaner energy sources, particularly natural gas and hydrogen.
March 8, 2025
The global steel industry is once again facing turbulence, with the United States imposing new tariffs on steel and aluminum imports. Former President Donald Trump, known for his aggressive trade policies, has reintroduced a 25% tariff on steel and 10% on aluminum imports from all countries, including long-standing allies such as the United Kingdom and Canada. In response, the UK government has accelerated its steel industry consultation process, aiming to safeguard its domestic industry from potential economic shocks.
These developments have sent ripples across global markets, affecting manufacturers, suppliers, and businesses reliant on steel and aluminum. The UK’s decision to fast-track a major steel industry green paper highlights the urgency of the situation and the need for strategic policy adjustments.
March 3, 2025
South Africa's steel industry, once a cornerstone of its industrial economy, is facing unprecedented challenges as it strives to preserve its historic steel mills established during the apartheid era. The potential closure of these century-old plants threatens to undermine the nation's manufacturing sector and exacerbate unemployment rates in an already strained economy.
March 2, 2025
Since the beginning of 2025, hot-rolled coil (HRC) prices have experienced significant increases across multiple global markets. This price surge has been driven by a combination of rising raw material costs, increasing demand in key industries, supply chain constraints, and protectionist trade policies.
Major steel manufacturers, including Nucor in the U.S., have responded to market conditions by implementing multiple price hikes, further fueling the trend. In Vietnam, China, Europe, and the U.S., steel prices continue their upward trajectory, impacting construction, automotive, and manufacturing sectors worldwide.
March 1, 2025
Vietnam has officially imposed temporary anti-dumping tariffs on hot-rolled coil (HRC) steel imports from China, marking a decisive move to protect its domestic steel industry. With tariffs ranging from 19.38% to 27.83%, this policy aims to reduce unfair competition, boost local production, and stabilize steel prices.
As China continues to flood global markets with excess steel, countries like South Korea, India, and Brazil have introduced similar trade barriers. Vietnam, being the largest buyer of Chinese steel outside China, now joins the growing list of nations pushing back against the global steel glut.
This move is expected to benefit local producers like Hoa Phat Group and Formosa Ha Tinh Steel, while companies reliant on imported HRC may face rising costs. The impact on steel prices, Vietnam’s construction sector, and international trade relations remains a key focus as the 120-day tariff period unfolds.