Steel prices for hot rolled coil in Europe have started to decline as end users push back from earlier offers. Meanwhile, benchmark iron ore prices in China dropped, due to the country’s zero-Covid policy. One analyst noted that steelmakers in Europe are cutting back their production. “Steel would get a bit of support from production […]
Christopher Rivituso
Two Ukraine Steel Mills Set to Restart Production
At least two Ukraine steel manufacturers are ready to restart production amid the ongoing conflict with Russia. Sources indicate this is because the areas where the mills are located have seen less impact from the invasion, according to MarketWatch.com. Global investors greeted the announcement with much fanfare. After all, the renewed export of Ukrainian steel […]
EU’s Russian Coal Ban Set to Impact Metal Prices
On April 8th, the European Union announced plans to ban imports of Russian coal. This, of course, comes in the wake of that country’s February invasion of Ukraine. The decision is part of the fifth round of sanctions against the Kremlin. And with the Russian economy already poised for a massive contraction, prices – including […]
Hot rolled coil prices are increasing in Western Europe.
Hot rolled coil prices in Western Europe have continued to rise. Insecurity of supply for the flat rolled material and the European Union’s blockage of certain steel imports from Russia are pushing prices upward, market sources told MetalMiner. In addition to other forms of steel, the MetalMiner Insights platform includes hot rolled coil prices from […]
Shelling severely damages Azovstal coking plant
Shelling on Metinvest’s longs and flats producer Azovstal has destroyed its ability to operate, local reports and a plant official stated. The plant is in the besieged Ukrainian city of Mariupol. Damage to the site remains unclear at present, sources told MetalMiner. Metinvest officials outside of Ukraine also did not indicate the degree of damage. […]
UK steel tariffs hit imports from Russia
The U.K. government has imposed a 35% import tariff on iron and steel from Russia and Belarus as part of denying the two countries Most Favored Nation tariff for hundreds of their exports. UK steel tariffs hit imports from Russia A March 15 statement from the Department for International Trade and HM Treasury named the […]
Amid rising European steel prices, EU bans imports of Russian steel subject to safeguard measures
We continue to monitor the impact of the Russian invasion of Ukraine on steel prices (and other commodities). In that vein, on March 15 the European Commission, the executive body for the European Union, implemented an import ban against Russian steel products currently subject to safeguard measures. EU moves forward with steel import ban The […]
UK regulator suspends trading of Russian steelmaker Evraz
In our ongoing coverage of the Russia-Ukraine war and its impact on metal prices, the Financial Conduct Authority, the UK’s financial regulator, has suspended trading of Russian steelmaker Evraz’s shares on the London Stock Exchange. The move follows the government’s addition of Roman Abramovich to its list of sanctioned individuals. UK suspends trading of Russian […]
Invasion pushes hot rolled coil prices upward in Western Europe
Russia’s invasion of Ukraine has started to push up hot rolled coil prices on Western Europe’s domestic market due to concerns over availability and logistics, industry watchers and market participants said March 1. Keep an eye out for the upcoming Raw Steels Monthly Metals Index (MMI) report, which will include additional coverage of hot rolled […]
EU brings sanctions against Russian magnates; impact on steel prices remains to be seen
Continuing our coverage of the Russian invasion of Ukraine and its impact on steel prices, aluminum prices and more, the European Union has brought sanctions against two Russian metals magnates on Feb. 28. The move comes on the heels of Russia’s invasion last week of Ukraine. This week’s MetalMiner newsletter will include additional analysis on […]