Tag: Steel

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, […]

JSW Steel Aiding Italy’s Steel Industry with €140 Million Investment

JSW Steel Aiding Italy’s Steel Industry with €140 Million Investment

One of India’s fastest-growing steel companies JSW Steel, recently announced the next step in its growth plan. In a major steel news event, JSW Steel Italy SRL inked a memorandum of understanding (MoU) with the Italian government to re-start production operations at the Piombino plant via a €140 million investment. According to JSW Steel, the […]

Construction MMI: Potential Manufacturing Boom Could Impact Steel Prices

Construction MMI: Potential Manufacturing Boom Could Impact Steel Prices Grinding gears

Month-over-month, the index experienced little movement. Overall, the Construction MMI (Monthly Metals Index) moved sideways, inching down just 1.2%. Steel prices moving downward placed some bearish pressure on the index. However, several significant factors continue to press on construction from both a bearish and bullish standpoint, including the Fed holding off on adjusting interest rates, […]

Automotive MMI: Automotive Market Improves, but Bears Show Up for Steel Prices

Automotive MMI: Automotive Market Improves, but Bears Show Up for Steel Prices automotive news

Month-over-month, the Automotive MMI (Monthly Metals Index) dropped by 3.03%. While the automotive market continued to improve overall, bearish pressure on certain steel prices like hot-dipped galvanized steel, ultimately forced the index down. Experts anticipate this bearish pressure to continue impacting both steel prices and automotive manufacturing in the short term. Despite this, the automotive […]

Indian Steel Demand Battles Influx of Chinese Imports

Indian Steel Demand Battles Influx of Chinese Imports

In July, India became a net importer of steel for the fourth time in the last year. And therein lies a tale of tariffs, changes in steel prices, and supply and demand. However, before discussing those issues, it’s important to revisit the facts. A recent report by India’s Steel Ministry revealed the country became a […]

EU Commission Reviews Request for 25% Extension of Steel Safeguard

EU Commission Reviews Request for 25% Extension of Steel Safeguard EU Commission

The European Commission, the executive body of the European Union, is due to examine a request to extend a 25% safeguard on a range of steel imports. Steel news reports that the EC received a request from 14 member states of the 27-member bloc on January 12. This request aimed to establish if an extension of […]

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 […]

Raw Steels MMI: Steel Prices Decrease as Nippon Deal Faces Setback

Raw Steels MMI: Steel Prices Decrease as Nippon Deal Faces Setback hot rolled coil steel prices and steel news.

The Raw Steels Monthly Metals Index (MMI) fell 11.17% from January to February as steel prices declined. U.S. flat rolled steel prices continued to slide after finding a peak at the close of 2023. Following a 2% decline throughout January, hot rolled coil prices fell over 5% during the first half of February. HRC prices […]

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 […]

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