India’s steel industry currently finds itself in a stressful predicament. Already reeling from cheap steel imports, the country is now even more worried about a surge of Chinese imports following the imposition of fresh tariffs on Chinese steel by U.S. President Joe Biden. Alongside the U.S., India and many other countries around the world have […]
Category: Carbon Steel
GFG Alliance Explores Co-Investment and Divestment Options for Liberty’s Belgian, Luxembourg, and Italian Plants
Liberty Steel recently triggered a review of its downstream flat rolling assets in Western Europe. The firm’s parent company, GFG Alliance, said the potential steel industry shakeup stems from an expression of interest from several interested parties. “The review will evaluate Liberty’s assets in Liège (Belgium), Dudelange (Luxembourg), and Piombino (Italy) and will be facilitated […]
Liberty Steel Reviews Future of Scunthorpe Merchant Bar Plant
Steel manufacturing giant Liberty Steel recently began consultations with unions on mothballing its merchant bar producer, Liberty Merchant Bar (LMB), in Scunthorpe. “This decision comes after a thorough review of strategic options and the challenging external conditions, especially the lack of local feedstock supply that has affected the plant’s viability,” Liberty’s parent company, GFG Alliance, […]
ThyssenKrupp and EP Corporate Group to Form Joint Steel Venture
ThyssenKrupp recently announced plans to create a 50/50 joint steel manufacturing venture with the Czech Republic’s EP Corporate Group and ThyssenKrupp Steel (TKS). According to the German group, talks are now ongoing between the two parties for the sale of an additional 30% stake in the steelmaker, following an April 26 announcement that EP would initially […]
Raw Steels MMI: Steel Prices Sideways Following Mill Price Reporting
The Raw Steels Monthly Metals Index (MMI) moved sideways, with a modest 1.86% decline from April to May. U.S. flat rolled steel prices found a bottom at the close of March and proceeded to move sideways. HRC prices saw a modest increase, but ultimately closed the month at $838 per short ton. Meanwhile, HRC Midwest […]
British Steel’s Ambitious Decarbonization Plan Gets the Green Light
In an April 2 announcement, steel industry leader British Steel stated that the Redcar and Cleveland Borough Council recently approved new equipment following a detailed consultation on its decarbonization project. British Steel originally announced its plans to replace the furnaces at Scunthorpe and Teesside in September under plans that would see the steelmaker cut its […]
A Blow to China’s Steel Dumping Tactics: Triple Tariffs
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 […]
Tata Steel Workers to Strike Against Port Talbot Blast Furnace Closures
Tata Steel workers associated with the Unite Trade Union at Port Talbot recently voted to strike over plans to replace the site’s two blast furnaces with electric arc furnaces. The decision immediately led to discussions about the near and long-term future of the UK steel industry as well as Tata’s production capabilities. “Around 1,500 Tata […]
Construction MMI: Manufacturing Boom Helping Industrial Metal Demand, Construction Delays Hurting It
Month-over-month, the Construction MMI (Monthly Metals Index) moved sideways for the fourth month in a row, only sliding down a slight 2.87%. Of all industrial metals, iron ore suffered the worst drop in price by far, hitting a 10-month low before a slight rebound. The main component holding the index up was aluminum 1050 sheet […]
Raw Steels MMI: Steel Prices Flatten, Is an Uptrend Next?
The Raw Steels Monthly Metals Index (MMI) moved sideways, with a modest 1.38% decline in steel prices from March to April. U.S. flat rolled steel prices continued to trade down throughout March. Meanwhile, HRC prices fell 8.35% to close the month at a new lower low. However, hot rolled coil prices traded up during the […]