This month saw the launch of the EU’s CBAM policy, a much-needed abbreviation for Carbon Border Adjustment Mechanism. Officials designed the trade policy to put a fair price on the carbon emitted during the production of carbon-intensive goods entering the European Union. They also hope it will encourage cleaner industrial production in non-EU countries. The policy […]
Category: Carbon Steel
CMC Poland Opens New Rolling Mill, London Metal Exchange Explores New Nickel Contract Options
According to an official with the bourse, the London Metal Exchange (LME) is not ruling out the prospect of introducing contracts connected with Category II nickel. This comes despite the incident with the LME nickel contract back in March 2022. “We are focusing on the contract as we have it,” said Robin Martin, the bourse’s […]
Construction MMI: Steel Prices Drop & Construction Impact on Steel Demand
Month-over-month, the Construction MMI (Monthly Metals Index) narrowly missed trading completely flat, ultimately moving sideways with just a 0.2% increase. Meanwhile, steel prices, specifically h-beam steel and steel rebar costs, either dropped or traded sideways, as did bar fuel surcharges. Energy have risen at an astounding rate since 2021 due to high inflation and geopolitical […]
Raw Steels MMI: Will Cliffs’ Price Hike Shift Steel Prices?
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, […]
Montenegrin Powerhouse EPCG Željezara Nikšić to Restart by 2024
Regional media reports state that Montenegrin specialty steels producer EPCG Željezara Nikšić aims to restart production by the end of 2023, possibly impacting steel prices. The facility went offstream in 2021, dramatically reducing steel output in the small Balkan country. Analysts remain eager to see how the restart might affect steel prices in the region. […]
Raw Steels MMI: How Will the UAW Strike Impact the Bearish Market, Steel Prices?
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 […]
UK Government & Tata Steel Reach Tentative Agreement on Port Talbot Plant, Risking 3,000 Jobs
The UK government and Mumbai-headquartered Tata Steel have reached a preliminary agreement over a funding package regarding the Port Talbot plant in South Wales. The package is part of a £1.25 billion ($1.55 billion) plan to decarbonize Port Talbot’s operations. However, concerns over jobs and the potential effect on local steel prices remain. A September […]
Scotland’s Last Steel Plate Mill on the Chopping Block? GFG Alliance’s Clydebridge Exit Plan
GFG Alliance recently began marketing its Clydebridge steel plate mill near the Scottish city of Glasgow for sale. According to news reports, government body Scottish Enterprise sold Clydebridge as well as its nearby sister plate roller Dalzell to GFG in 2016, after previous owner Tata Steel mothballed the two plants in 2015. “Following a review […]
Renewables MMI: Grain-Oriented Electrical Steel Prices Skyrocket
Month-over-month, the Renewables MMI (Monthly Metals Index) ended up dropping significantly by 11.16%. The main culprit for this was cobalt prices dropping significantly in August, despite prices flattening again in the beginning of September. Steel plate prices also found support as of September 6th. Most other components of the index moved sideways or slightly up, […]
European Steelmakers Pursue €20 Hike on Steel Prices Amid Sluggish Demand
Steelmakers in Northwestern Europe are seeking an increase of €20 ($20) per metric ton on hot rolled coil. Market sources told MetalMiner that the hike in steel prices comes despite subdued demand for the flat rolled product going into September. “I think that they are trying to push up prices against input prices,” one source […]
