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Experts Predict Nickel Prices Will Continue to Drop in 2024

Experts Predict Nickel Prices Will Continue to Drop in 2024

Will there be a rebound in Chinese nickel purchases in 2024? Furthermore, will it serve to bolster the market in the near term? Following a lengthy period of de-stocking last year, these are just some of the questions with implications for the global nickel price. As the world moves toward cleaner energy sources, certain minerals […]

Guinea Approves Simandou Iron Ore Mining Project, Cementing Future Growth

Guinea Approves Simandou Iron Ore Mining Project, Cementing Future Growth

The West African state of Guinea recently approved a joint development deal between the government, Rio Tinto/Simfer, and the Winning Consortium Simandou (WCS) consortia to develop the Simandou iron ore mining project. The National Transition Council (NTC), Guinea’s legislative body under the interim regime, announced the deal’s approval on February 3. “In short, this agreement […]

Metinvest Reports Drop in Steel Production Amidst Russian Invasion

Metinvest Reports Drop in Steel Production Amidst Russian Invasion

Ukrainian metals and mining group Metinvest recently reported a 31% decrease year on year in its crude steel production for 2023, citing Russia’s ongoing invasion of the country. The company halted steel manufacturing activities at its assets in Mariupol, Avdiivka, and Zaporizhzhia two years ago. This includes the Azovstal, Ilyich Steel, Avdiivka Coke, and Zaporizhzhia […]

UK Places Hot Rolled Steel Imports Under Scrutiny with Tata Steel Closure Plans

UK Places Hot Rolled Steel Imports Under Scrutiny with Tata Steel Closure Plans steel news at Port Talbot

The United Kingdom’s Trade Remedies Authority (TRA) recently initiated a suspension review on safeguard measures against hot rolled flat and coil steels. Steel news sources report that the move also came alongside a tariff quota review. TRA reported on February 9 that both Tata Steel UK (TSUK) and steel trader Kromat Trading filed applications for […]

Steel Production Declines in December 2023: Factors Impacting the Global Steel Market

Steel Production Declines in December 2023: Factors Impacting the Global Steel Market Steel production, steel market, steel smelting

Data from the World Steel Association (Worldsteel) released on January 25 indicates that global crude steel production remained largely unchanged year on year. Indeed, steel market analysis says poured liquid steel totaled 1.88 billion metric tons last year, which is similar to the volume poured in 2022. The association also stated that crude steel production […]

Renewables/GOES MMI: U.S. Transformer Shortage Pain Continues into 2024

Renewables/GOES MMI: U.S. Transformer Shortage Pain Continues into 2024

The Renewables index began 2023 fairly sideways. However, it broke that trend in Q3 and Q4 when it edged downward. Numerous components of the index, including silicon and cobalt, experienced market oversupply. This caused prices to drop and pulled the index down with it. Grain oriented electrical steel also experienced market volatility in Q3 and […]

Conflicting Reports Signal Chinese Aluminum Supply Uncertainty

Conflicting Reports Signal Chinese Aluminum Supply Uncertainty aluminum smelting aluminum supply

Conflicting reports continue to emerge from China regarding aluminum supply, demand, and production. Some information notes that the downturn in the country’s economy is largely due to the ongoing real estate crisis. As demand wanes, this poses questions regarding the internal pickup of aluminum and other base metals. However, other reports talk of the country […]

Global Precious Metals MMI: Precious Metals Prices Remain Mostly Sideways Amid Conflicting Factors

Global Precious Metals MMI: Precious Metals Prices Remain Mostly Sideways Amid Conflicting Factors gold bullions, silver coins and bills

The Global Precious Metals MMI (Monthly Metals Index) maintained a sideways trend once again, this time moving up only 2.07%. That said, the overall future for precious metals prices brightened recently. For example, through October, gold increased around $150 per ounce. However, there were several variations in the prices of precious metals between October 1 […]

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 […]

Desperate Move? Russia Importing Aluminum Oxide from India Amidst Shortage

Desperate Move? Russia Importing Aluminum Oxide from India Amidst Shortage Aluminum mill

A somewhat desperate Russia has made some interesting moves relating to its need for aluminum oxide, also known as alumina. Recent reports indicate that the country began importing alumina from India several months ago. This is in addition to China, which already supplied aluminum oxide to Russia’s Siberian plants. Obviously, Russia found itself on a […]

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