New China tariffs may soon change the country’s steel market tactics. China continues to sit on a stockpile of steel, and it has no idea what to do with most of it. The exception, however, seems to be dumping it into foreign markets for cheap under the guise of “exportation.” China remains unable to use […]
Sohrab Darabshaw
LME’s Russian Metal Ban Shifts Global Metal Trade Dynamics
China will undoubtedly become an even more significant buyer of Russian metals following the London Metal Exchange’s ban on newly produced Russian aluminum, copper, and nickel. China has already evolved into a major market for Russian-made products following dwindling demand in the West, and these new Russian sanctions will likely only further cement that position. […]
Iron Ore Price Drops to 10-Month Low Before Recovering
The fear expressed by institutional analysts at the start of the year that 2024 will see some degree of volatility on the iron ore price front seems to be coming true. On April 1, the beginning of the second fiscal quarter, iron ore prices fell to a ten-month low. Costs for the raw steel-making material […]
Australia’s Biggest Challenges Lie Ahead for Iron Ore Production
Australia’s iron ore industry faces a major challenge, and if the country does not take corrective course action soon, it risks losing its position as the largest exporter of iron ore. This would have a significant impact on the nation’s industry, and its ability to affect the iron ore price. The challenge is the “changing […]
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 […]
Subdued Market Reaction So Far to China’s Targeted 2024 Growth Rate
Investors, traders, and the metals community continue to anticipate fresh stimulus measures from China’s top leaders, which could potentially kickstart economic growth, increase metals consumption, and affect metal prices. However, they remain rather disappointed with Beijing’s target 5% growth for 2024. Moreover, demand has remained subdued since the Lunar New Year holiday. Almost everyone was […]
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 […]
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 […]
Indonesia’s Nickel Dominance Spells Trouble for Global Industry
The global nickel mining industry is under stress, and the primary reason is an oversupply of low-cost nickel from Indonesia. Moreover, this constant supply continues to support a major global surplus, placing downward pressure on the nickel price. At this point, the Southeast Asian nation has already cornered more than half of the world’s supply […]
Tesla’s Steel Causes Strain…and Stain
The world may have come to expect near-perfection from Elon Musk and his products, resulting in the slightest problem with any of them getting amplified in the media. Nonetheless, the latest U.S. steel news has not been kind to Tesla’s recently-launched and significantly delayed electric Cybertruck. The truck started shipping last December, having seen several […]
