GMK Center World

01/08/2025

🇵🇱The country ranks 20th in the global ranking of steel producers.

Production volumes grew by 7.4% y/y in 1H2025

31/07/2025

🌐The absence of BF-BOF capacities allows companies in the Gulf Cooperation Council (GCC) countries to already produce low-emission steel, with average emissions of 1.13 tons of CO2 per ton of finished product. And they have everything they need to transition to completely low-carbon production: huge investment resources plus enormous potential for renewable energy. If anyone in the world is going to be the first to succeed, it will be the GCC countries.

But they can do even more. And they can do it now. Cheap electricity plus virtually free natural gas, which reserves are incredible, is what allows the Gulf states to take the lead in global DRI production. The main sales market could be the European Union, where, after the introduction of CBAM, replacing pig iron with low-carbon raw materials for steelmaking will become acute issue.

GCC countries can play an important role in decarbonizing global steel industry

30/07/2025

💰After more than three months of calm, the global iron ore market confidently entered a growth trajectory in July.

September futures on the Dalian Exchange rose 13.2% since the beginning of the month, exceeding $112/t, while August contracts in Singapore rose 10.6% to nearly $103/t. At the end of the week of July 18-25, the increase was 2.4% and 2.3%, respectively. The main drivers were expectations of government stimulus in China and the announcement of strategic infrastructure projects: https://gmk.center/en/news/iron-ore-prices-have-risen-by-more-than-10-since-the-beginning-of-july/

30/07/2025

🇪🇸In January-June 2025, Spanish steel enterprises increased steel production by 5.4% compared to the same period in 2024, to 6.58 million tons.

Thus, the country ranks 15th in the global ranking of steel-producing countries: https://gmk.center/en/news/spain-increased-steel-production-by-5-4-y-y-in-1h2025/

29/07/2025

💰In July 2025, the global scrap market showed limited price growth in most key regions. The impact of unstable demand, seasonal decline in activity, logistical difficulties, and currency fluctuations created a challenging environment. In particular, Turkey saw a slight increase in prices amid a shortage of raw materials, while China stood out with an increase in domestic prices despite a decline in imports: https://gmk.center/en/posts/the-global-scrap-market-showed-overwhelming-stability-in-july/

28/07/2025

🇹🇷The modern Turkish steel industry took shape in the 2000s as part of the industrialization of the economy. The authorities had two scenarios. The first was to create large integrated BF-BOF plants. The second was to build EAF scrap-based plants. Both options had one common drawback: the lack of their own raw material base.

In the first case, they would have had to import iron ore, and in the second, scrap. Therefore, there was no choice of the “lesser evil” here. Nevertheless, by focusing on the development of EAF steel industry, the government took a very far-sighted step. The average level of CO2 emissions per 1 ton of finished steel in Turkey is about 1 ton. In essence, local steel is already “green.” This means that it does not require as much investment in decarbonization as in many other countries.

Steel production in Turkey today is one of the most environmentally friendly in the world

25/07/2025

🇺🇦In 2025, Ukraine recorded a 4.9% decline in steel production over six months. And that’s not all, because at the end of 2024, GMK Center predicted a 9% drop in steel production in 2025. At first glance, this looks like a sign of decline in an industry that was one of the key sectors of the country’s economy just 15 years ago. However, the reality is more complex: the war and the loss of capacity have forced Ukrainian steel companies to restructure, become more efficient, and prepare for a new stage of development once the war is over.

Ukraine can become a hub for low-carbon steel production

24/07/2025

🇮🇹In June 2025, Italian steel companies reduced steel production by 9% compared to the previous month, to 1.78 million tons.

During January-June, steel production by Italian steelmakers increased by 2.9% compared to January-June 2024, to 11.1 million tons: https://gmk.center/en/news/italy-reduced-steel-production-by-9-m-m-in-june/

23/07/2025

🌐Global steel production in June 2025 fell by 5.8% compared to the same month in 2024, to 151.4 million tons.

The top three steel-producing countries in June 2025, according to World Steel Association:
🇨🇳China – 83.2 million tons;
🇮🇳India – 13.6 million tons;
🇺🇸USA – 6.9 million tons.

🇺🇦In June 2025, Ukraine produced 621.4 thousand tons of steel, which is 2.3% less y./y.

23/07/2025

💰In July, the global iron ore market showed significant price growth due to a combination of positive fundamental and expected political factors.

September futures on the Dalian Exchange reached $112.74/t as of July 21, the highest since February, showing a 14% increase since the beginning of the month. August contracts on the Singapore Exchange also rose 11.3% to $103.6/t: https://gmk.center/en/news/iron-ore-prices-rose-to-its-highest-level-since-february/

22/07/2025

🇪🇺In January-May 2025, the European Union imported 2.57 million tons (+1.1% y/y) of steel raw materials of Russian origin.

The bulk of this volume consists of pig iron, semi-finished steel products, and direct reduced iron: https://gmk.center/en/news/eu-imported-2-57-million-tons-of-iron-and-steel-products-from-russia-in-january-may/

21/07/2025

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