CARBON STEEL MARKET ANALYSIS

Carbon Steel Market, By Carbon Content (Low Carbon Steel (Mild Steel), Medium Carbon Steel, High Carbon Steel), By End-use Industry (Construction, Automotive, Oil & Gas, Energy, Consumer Goods, Shipbuilding, Others), By Form (Flat Products, Long Products, Tubular Products), By Process (Basic Oxygen Furnace (BOF), Electric Arc Furnace (EAF)), By Treatment (Cold Rolled, Hot Rolled, Galvanized, Annealed), By Application (Tools, Pipes & Tubes, Construction Hardware, Structural), By Geography (North America, Latin America, Europe, Middle East & Africa, and Asia Pacific)

Recent Developments

New product launches

launched Greenate certified steel in South Korea. This low-carbon steel product is made using a variety of technologies to reduce CO2 emissions, including the use of scrap metal, hydrogen-based directly-reduced iron, and electric arc furnaces. POSCO aims to have an annual production capacity of 5Mt of Greenate certified steel by 2030.
Hyundai Steel launched HyECOsteel, its own low-carbon steel brand. The company plans to have an annual production capacity of 5Mt of HyECOsteel by 2030. HyECOsteel is made using a variety of technologies to reduce CO2 emissions, including the use of scrap metal, molten iron from blast furnaces, and hydrogen-based directly-reduced iron.
JFE Eco Xcel, a new brand of high-strength, low-alloy steel. JFE Eco Xcel is made using a new production process that reduces CO2 emissions by up to 20% compared to traditional steelmaking methods. JFE Steel aims to have an annual production capacity of 1Mt of JFE Eco Xcel by 2025.

Acquisition and partnerships

In 2022, ArcelorMittal acquired Cleveland-Cliffs for US$38 billion. This deal created the world's largest steelmaker by output.
In 2021, Nippon Steel and Sumitomo Metal Corporation (NSSMC) announced plans to merge. The combined company would be the world's second-largest steelmaker.
In 2020, China Baowu Steel Group acquired the assets of the Australian steelmaker BlueScope Steel for US$5.4 billion. This deal gave China Baowu a major foothold in the global carbon steel market.