Tag: steel price

Raw Steels MMI: Mills Lob Price Hikes at Bearish Steel Prices

Raw Steels MMI: Mills Lob Price Hikes at Bearish Steel Prices bearish steel prices

The Raw Steels Monthly Metals Index (MMI) moved sideways amid bearish steel prices, with a modest 1.75% increase from February to March. U.S. flat rolled steel prices stayed bearish over the past few weeks. Meanwhile, HRC prices remained 22% beneath their peak at the close of 2023 as they search for a new bottom. However, […]

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 […]

Raw Steels MMI: Will Cliffs’ Price Hike Shift Steel Prices?

Raw Steels MMI: Will Cliffs’ Price Hike Shift Steel Prices? Cleveland cliffs

The Raw Steels Monthly Metals Index (MMI) rose 3.45% from August to September. Flat rolled steel prices remained bearish throughout September. Meanwhile, hot rolled coil prices continued to show the largest decline, falling to their lowest levels since December 2022. By the end of September, prices sat only 4% above their last major low. Meanwhile, […]

Raw Steels MMI: How Will the UAW Strike Impact the Bearish Market, Steel Prices?

Raw Steels MMI: How Will the UAW Strike Impact the Bearish Market, Steel Prices? steel mill

The Raw Steels Monthly Metals Index (MMI) moved sideways, with a 2.83% decline from August to September as steel prices dropped almost across the board. Indeed, flat-rolled steel prices continued their downtrends throughout August. Amid uninterrupted week-over-week declines, HRC prices saw the largest drop, falling 10.3% throughout the month. By mid-September, prices reached their lowest […]

Steel Industry Disruption: Cleveland-Cliffs’ Jaw-Dropping Bid to Acquire US Steel Makes Waves

Steel Industry Disruption: Cleveland-Cliffs’ Jaw-Dropping Bid to Acquire US Steel Makes Waves Screenshot-2023-08-14-at-11.23.00-AM

Late Sunday night, the Wall Street Journal reported that U.S. Steel had rejected an unsolicited offer from Cleveland-Cliffs for the company, valuing it at $7 billion. According to the report, Cliffs offered $17.50/share in cash plus 1,023 shares of Cliffs stock. U.S. Steel promptly rejected the offer and indicated that it would seek alternative proposals. […]

Raw Steels MMI: Bearish HRC, Steel Prices Flatten at Start of July

Raw Steels MMI: Bearish HRC, Steel Prices Flatten at Start of July AdobeStock_368869250

The Raw Steels Monthly Metals Index (MMI) moved sideways, with a modest 0.32% decline from June to July. Flat rolled steel prices appeared decidedly bearish throughout June. HRC prices saw the largest month-over-month decline, dropping nearly 16% before finding a bottom at the start of July. From there, HRC prices saw a modest $1/st increase […]

Automotive MMI: Automobile Sales Rise, but Falling Steel Demand Impacts Market

Automotive MMI: Automobile Sales Rise, but Falling Steel Demand Impacts Market Cars For Sale Stock Lot Row

The Automotive MMI (Monthly Metals Index) continued its decline in June, this time falling by 3.28%. The aluminum and copper components of the index traded sideways. However, all other parts of the index dropped. Lead prices managed to trend more sideways in June than in May, but weak demand continues to impact lead and steel […]

Construction MMI: Canadian Wildfire Smoke Puts a Halt on NYC Construction

Construction MMI: Canadian Wildfire Smoke Puts a Halt on NYC Construction dfs

The Construction MMI (Monthly Metals Index) stayed within a tight range, but dropped more than in the previous three months. Overall, the index fell by 5.04% month-on-month. Meanwhile, steel prices continued to slide, which brought noticeable bearish pressure to the index. However, within the first couple weeks of June, H-beam steel and steel rebar prices […]

Raw Steels MMI: HRC Steel Prices Drop and Mill Lead Times Plummet

Raw Steels MMI: HRC Steel Prices Drop and Mill Lead Times Plummet dd

The Raw Steels Monthly Metals Index (MMI) remains bearish, declining 6.93% from May to June. Flat rolled steel prices returned to their bearish movement after peaking in April, while hot rolled coil prices retraced down to their March levels. Altogether, HRC prices have declined 13% from their April 14 high. Meanwhile, both cold rolled coil and […]

Imports Put Bearish Pressure on European Steel Mills

Imports Put Bearish Pressure on European Steel Mills blurred-background-of-hot-rolled-steel-coil-2

Market participants report that prices for hot rolled coil in northern Europe continues to decline. The cause for the alarming steel news mainly concerns pressure from imports. Additionally, low demand and oversupply have been contributing factors in price fluctuations, with the problem persisting since early April. “The problem is not with Germany, but rather with […]

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