The recent US-China agreement to temporarily reduce tariffs is a major step for global trade, with tariffs on US goods entering China dropping from 125% to 10% and on Chinese goods entering the US decreasing from 145% to 30% starting May 14. While this has boosted markets and created optimism, key industries like autos and steel remain affected, leaving businesses waiting for clearer long-term trade policies.

The US-UK trade deal removes tariffs on steel and aluminium while reducing automotive duties, offering relief to British industries and reshaping transatlantic trade dynamics. The agreement also signals broader implications for global trade negotiations, particularly regarding China and excess capacity in metals.

Ford Motor Company will offset $1 billion of an expected $2.5 billion exposure from tariffs and remains "on track and within our original full-year guidance range of $7 billion-8.5 billion" in operating earnings for 2025, Jim Farley, president and chief executive officer, said during the automaker's first-quarter earnings call on Monday March 5.

The price assessments concerned were: MB-STE-0185 steel cold-rolled coil, fob mill US, $ per cwt MB-STE-0186 steel hot-dipped galvanized coil (cold-rolled base), fob mill US, $ per cwt MB-STE-0172 steel cut-to-length plate carbon grade, fob mill US, $ per cwt This consultation was done as part of our published annual methodology review process. No feedback […]

Fastmarkets proposes to amend the publication day for its European steel domestic plate and import plate assessments from Wednesday to Thursday, to better align with related markets.

Chinese exports of long steel and steel billet increased sharply in the first quarter of 2025, preventing their prices from dropping more deeply amid a slow demand recovery in the domestic market, market participants said.

The global metallurgical coke market is undergoing a dramatic transformation in 2025, shaped by declining demand in key markets, rising trade protectionism, and a growing push for decarbonization.

This consultation was done as part of our published annual methodology review process. No feedback was received during the consultation period and therefore no changes will be made to the methodologies at this stage. This notice of the decision was delayed past its original May 1 schedule. This consultation sought to ensure that our methodologies […]

In order to better reflect the material traded in the market, Fastmarkets proposes to reduce the range of specified widths to 1,500-2,500mm from 1,000-2,500mm. The publication day of the assessment will also be changed from Friday to Thursday. The proposed new specifications are listed below, with the suggested amendments in italics: MB-STE-0896 Steel slab import, cfr […]

Due to the Labor Day public holiday in Turkey on Thursday May 1, these prices will be published instead on May 2, in accordance with Fastmarkets’ policy. This change was not initially noted on Fastmarkets’ 2025 pricing schedule. The pricing schedule has now been updated. The affected prices are: MB-STE-0119 steel reinforcing bar (rebar), export, fob […]