steel

The EU Faces a Staggering $28 Billion Blow from Trump’s Tariffs on Steel and Aluminum

4 hours ago

The European Union is grappling with a significant economic downturn as it faces an estimated impact of $28 billion due to the imposition of tariffs on steel and aluminum by former President Donald Trump. The tariffs, initially introduced to protect U.S. industry under the justification of national security, have sparked widespread criticism and repercussions that extend far beyond American borders.

Trump's Steel Tariffs: A Looming Crisis in Asia's Metal Market

1 day ago

In a bold move that could shift the dynamics of the global steel industry, former President Donald Trump's administration is contemplating substantial steel tariffs aimed at protecting American manufacturers. However, these tariffs risk exacerbating an existing glut of metal in Asia, primarily affecting countries that rely on steel exports.

South Korea Joins the Tariff Battle: Aiming Tariffs on Chinese Steel Imports

2 days ago

In a significant move reflecting growing domestic pressures and international trade dynamics, South Korea has announced plans to impose tariffs on Chinese steel imports. This decision aligns with protectionist strategies adopted by various nations, echoing actions taken by the former Trump administration in the United States.

South Korea Contemplates Stronger Measures Against Steel Product Dumping

3 days ago

In an urgent response to increasing concerns about fair trade practices, South Korea is considering the implementation of anti-dumping duties on select steel products. This potential move comes in the wake of heightened imports, particularly from nations like China, which has drawn significant scrutiny from both domestic manufacturers and policymakers. With steel being a vital component of South Korea's economy, the government's review is aimed at protecting local industry from unfair competition.

Billionaire Friedland's Iron Ore Company Eyes Up to $190 Million in Australian IPO

4 days ago

In a groundbreaking move that is set to shake up the iron ore industry, billionaire mining magnate Lukas Friedland is preparing to launch an initial public offering (IPO) targeting up to $190 million in Australia. His iron ore mining company, which has been gaining momentum, seeks to leverage the robust demand for iron ore and the ongoing recovery within the mining sector.

UK Unveils Ambitious $2.5 Billion Steel Initiative Amidst Trump's Tariff Threat

6 days ago

In a bold move to fortify its steel industry, the United Kingdom has launched a substantial investment plan worth £2 billion (approximately $2.5 billion) aimed at rejuvenating the sector, which has faced persistent challenges in recent years. This significant initiative comes in response to a looming threat from former President Donald Trump regarding the potential reintroduction of tariffs on imported steel, a situation that has spurred the UK government into action.

Baku Steel Eyes Italian Steelmaker Messaggero in Strategic Acquisition

7 days ago

In a significant move that could reshape the European steel landscape, Baku Steel has emerged as the leading contender to acquire the Italian steelworks known as Messaggero. Sources indicate that the negotiations, which have been ongoing, are progressing towards a promising conclusion that would see Baku Steel bolster its presence in the European market.

Australia's Iron Ore Export Hub Set to Reopen Following Cyclone Decline

8 days ago

Australia's crucial iron ore export hub is gearing up to resume operations, following the diminishing impact of a recent cyclone that swept across the region. This reopening comes as a relief for many in the mining sector, as iron ore is a vital commodity for the global economy, particularly for major players like China. The cyclone had raised concerns about the potential disruptions in supply chains and the threat to production levels, yet reports indicate that damage assessments have revealed minimal impact.

Australia's Iron Ore Export Hub Set to Reopen as Cyclone Weakens

8 days ago

In a significant development for the mining sector, Australia’s key iron ore export hub is preparing to reopen following the recent weakening of a severe cyclone that impacted operations. This news comes as a relief to both exporters and global markets keenly watching the iron ore supply chain.

Brazil's Innovative Approach to Trump's Steel Tariffs: Quotas as a Solution

10 days ago

In response to the ongoing challenges posed by former President Donald Trump's steel tariffs, Brazil is proposing a novel solution—introducing quotas on steel imports. This comprehensive approach aims to balance the need for domestic production with the demand in the market, potentially easing the burden caused by the tariffs that have impacted many countries, including Brazil.