The economic and geopolitical conditions that have affected the European steel market over the past two years show no signs of improvement and have further deepened their negative impact on the sector in 2024.

First quarter 2025 report. Data up to, and including, third quarter 2024.

Anglo American subsidiary Kumba Iron Ore has reported a 17% lower total dividend for the year ended December 31, on the back of steel market and iron-ore pricing dynamics.

The stock was the top loser on the benchmark ASX 200 index, which was down 0.7%.

"China's 'circle of friends' to develop the circular economy is constantly expanding," Zhu Liyang said.

The same applies to steel and aluminum, key materials for car production, which both Mexico and Canada export to the US.

Contrary to the US administration's claims, Nagel asserted that tariffs would likely have negative consequences for the United States as well.

Their comments came after Trump signed an executive order on Feb 10, announcing a 25 percent tariff on all US steel and aluminum imports from March 12.