Category: Ferrous Metals

Construction MMI: Construction Spending Rises but Construction Index Falls

Construction MMI: Construction Spending Rises but Construction Index Falls Construction News

The Construction MMI (Monthly Metals Index) strayed from its sideways trend to drop 6.84% month-over-month. A drop in European commercial aluminum 1050 sheet prices was the main culprit in the index’s decline. Construction news sources indicate with steel prices finally flattening out in recent weeks, the index could face further bearish pressure. Despite this, construction […]

2023 in Review: Carbon Steel/Raw Steel Prices

2023 in Review: Carbon Steel/Raw Steel Prices steel prices/hot-rolled coin prices

2023 steel prices witnessed heavy bullish pressure at the beginning of the year. However, as the year wore on, more and more bearish pressure began affecting the market. Factors such as Cleveland Cliffs’ price hikes, the UAW strike, and U.S. Steel going up for sale all had major impacts on the market and steel demand. […]

Steel Production and Export Pressure Push India’s Steel Trade into a Deficit

Steel Production and Export Pressure Push India’s Steel Trade into a Deficit

India officially reported a trade deficit in steel shipments in the April-October 2023 period. Analysts cited a continue drop in export demand and shifting steel production levels as the primary reasons why they total value of imports was more than that of exports. Furthermore, the continued slow demand from major markets like Europe continues to […]

ArcelorMittal Halts Steel Production in Bosnia Amidst Europe’s Slump in Demand

ArcelorMittal Halts Steel Production in Bosnia Amidst Europe’s Slump in Demand ArcelorMittal steel

A drop in steel demand throughout Europe proved the reason for ArcelorMittal temporarily suspending output at its Bosnia plant. The company remains a leading player in the steel industry, making approximately 700,000 tons of liquid steel every year and employing 2,200 workers. According to this report, company management moved to halt production due to a […]

British Steel Has £1.25 Billion Plan to Slash Emissions with Electric Arc Furnaces

British Steel Has £1.25 Billion Plan to Slash Emissions with Electric Arc Furnaces steel news arc furnace

British Steel recently told steel news sources of a £1.25 billion ($1.53 billion) project to replace its blast furnace operations with electric arc furnaces. The company said the goal was to help slash current carbon emissions. “The proposals, which are subject to appropriate support from the UK Government, could see British Steel install two electric […]

Construction MMI: Index Remains Sideways, U.S. Construction Industry Jobs Up

Construction MMI: Index Remains Sideways, U.S. Construction Industry Jobs Up construction and infrastructure market trends

The Construction MMI (Monthly Metals Index) continued to lack strong bullish or bearish pressure month-over-month. Overall, the index only dropped by a minuscule 0.13%. Still, many factors remain at play in the construction industry, which seems to be behind the index components’ steady sideways trends. With the winter months coming, infrastructure construction will likely slow […]

Asset Freeze Issued by ArcelorMitta on Liberty Steel for €140 Million Debt

Asset Freeze Issued by ArcelorMitta on Liberty Steel for €140 Million Debt ArcelorMittal steel

ArcelorMittal recently obtained a freeze order from a Singaporean court against Liberty Steel. The order totals €140 million ($150 million) and relates to the prospective sale of Liberty Steel assets. According to reports, the Luxembourg-headquartered group acquired a court injunction from a Singapore court on Nov. 1. That injunction prohibits Liberty from removing any assets […]

Raw Steels MMI: How Long Can Steel Prices Rise?

Raw Steels MMI: How Long Can Steel Prices Rise? hot rolled coil, wrapped

The Raw Steels Monthly Metals Index (MMI) rose 2.53% from September to October. Roughly six weeks ago, U.S. steel prices found a bottom at the close of September. However, in October, the market shifted, leading to a nearly 17% rise in HRC prices as they retraced back to their August range. Both CRC and HRC […]

Automotive MMI: UAW Strike Finally Over

Automotive MMI: UAW Strike Finally Over

The Automotive MMI (Monthly Metals Index) moved sideways month-over-month, rising in price by just 2.31%. Save for hot-dipped galvanized steel, most parts of the index also traded sideways, mainly due to a lack of strong bullish or bearish pressure. Hot-dipped galvanized proved the only outlier due to steel corporations hiking prices. However, the main headline […]

CBAM Update: How the USA and EU are Collaborating to Curb Chinese Steel Imports

CBAM Update: How the USA and EU are Collaborating to Curb Chinese Steel Imports

This month saw the launch of the EU’s CBAM policy, a much-needed abbreviation for Carbon Border Adjustment Mechanism. Officials designed the trade policy to put a fair price on the carbon emitted during the production of carbon-intensive goods entering the European Union. They also hope it will encourage cleaner industrial production in non-EU countries. The policy […]

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