Read more about the highlights from Fastmarkets’ annual Middle East Iron and Steel conference, which was held on 18-20 November in Dubai.

Steel market participants had varying reactions to US President-elect Donald Trump’s assertion on Monday September 25 that he will impose a 25% tariff of all products being imported from Canada and Mexico into the US, as well as levy a 10% additional tariff on all Chinese imports.

The International Energy Agency (IEA) and the UN High Level Climate Champions (UN HLCs) have developed a roadmap detailing a global implementation plan for governments and initiatives in the steel industry, aimed at accelerating decarbonization, Fastmarkets heard at the 29th Conference of the Parties (COP29) of the United Nations Framework Convention on Climate Change (UN FCCC).

Prices for imported flat-rolled steel into the US were largely stable on Wednesday November 20, with market participants reporting thin trading and long lead times deterring them from engaging in the foreign markets.

Insteel Wire Products Company announced it will cease operations at its factory in Warren, Ohio, next week.

Navigating the steel market's new terrain: tariff impacts on global markets and US manufacturing

The publication of Fastmarkets’ index for steel reinforcing bar (rebar) export, fob China main port for Tuesday November 19 was delayed due to a reporter error. Fastmarkets’ pricing database has been updated.

Chinese steelmakers exporting low-carbon emission steel products will be among key users of green ferro-alloys, mainly because of the carbon emissions reduction requirements of the end users in their export destinations, sources told Fastmarkets.

Ferro-alloys markets will continue to be under pressure next year, but there are hopes of a market recovery due to improved steel demand, Fastmarkets ferro-alloys analyst Emre Uzun told delegates at the 40th international ferro-alloys conference held in Istanbul, Turkey on November 10-12.

Concerns over a potential decline in investments in the decarbonization of the steel industry are growing following the confirmation that Donald Trump will soon be returning as president of the United States, sources told Fastmarkets this week.