U.S. President Donald Trump announced a modification to tariffs imposed on steel, aluminum, and copper imports, reducing tariffs on products made from these metals. This decision aims to simplify procedures and prevent manipulation of import values.
The war in Iran has extended to its steel factories, with airstrikes hitting 'Mobarakeh Steel' and 'Khuzestan Steel', resulting in casualties and significant damage. These factories are crucial pillars of Iran's non-oil economy.
Russia's exports of iron and steel to the European Union have seen a dramatic decline, dropping more than fivefold in January compared to last year, according to Eurostat data. This significant decrease reflects the impact of sanctions imposed on Russia due to the ongoing conflict in Ukraine.