Global stainless steel production in 2024 saw a 7% year-on-year increase, reaching a total of 62.621 million tons, according to data from the World Stainless Association, a non-profit organization.

Earlier this week, the United States rejected the European Union's zero-for-zero tariff proposal, deeming it inadequate. President Trump had suggested that the EU should also increase its energy imports from the US, particularly in the form of liquefied natural gas (LNG), to address the significant trade deficit between the two blocs.

China's industrial sector is picking up speed, with the official Purchasing Managers' Index (PMI) reaching 50.5 points in March, marking the highest level in a year.

In February 2025, global steel production across 69 countries totaled 144.7 million tons, marking a 3.4% decline compared to the same month in 2024.

China's steel industry saw a 1.5% year-on-year decline in production during January-February 2025, totaling 166.3 million tons, according to data from the National Bureau of Statistics of China (NBS), as reported by Reuters.

Steel buyers in Europe are facing a market shift, as local producers are no longer offering hot-rolled coil (HRC) below €600 per tonne.

After a rough start to the week, the majority of major Asian stock markets managed to recover and even ended the day significantly higher. The Jakarta Composite Index (+4.1%), the Nikkei 225 (+1.8%), and the TOPIX (+1.77%) all showed notable gains.

The European Commission (EC) has unveiled the Clean Industry Agreement, a strategic plan designed to bolster the competitiveness and sustainability of Europe's manufacturing sector.

The European Union anticipates losses of up to €28 billion ($29.3 billion) from the first wave of tariffs imposed by the Trump administration on steel and aluminum, according to Bloomberg.

In January, China issued government bonds totaling 693 billion renminbi, more than double the amount issued in the same month last year.