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 […]
Category: Carbon Steel
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 […]
Is the UK Government Playing Politics in the Tata Steel Port Talbot Transition?
Tata Steel is in talks with the UK government to acquire £500 million ($630 million) in funding. The steelmaking multinational confirmed the funds would help the Port Talbot plant replace its operating blast furnaces with electric arc furnaces. The news comes as the Tata Steel share price recently reached a high for the year. “Given […]
Construction MMI: Falling Chinese Imports Weigh on Construction, Steel Prices
The Construction MMI (Monthly Metal Index) rose for the first time in five months, welcoming a 3.97% increase. However, this rise could prove deceiving as the index still faces numerous bearish sentiments. Bar fuel surcharges rising helped the index rise month-over-month, along with did aluminum bar prices. Steel rebar and h-beam steel prices, on the […]
Automotive MMI: Possible UAW Strike Could Seriously Impact Industry
Month-over-month, the Automotive MMI (Monthly Metals Index) slid downward by 3.42%. Steel prices within the index, like hot-dipped galvanized, trended sideways. However, copper and lead fell, introducing bearish pressure. Overall, the U.S. automotive industry witnessed some dynamic changes month-over-month. More robust demand for personal transport continues to emerge as supply chains regain strength. This will […]
Tata’s Port Talbot Steel Manufacturing Plant Faces Uncertain Future, UK Pledges £500 Million Lifeline
The British government and Tata Steel remain in discussion regarding the future of the Port Talbot steel manufacturing plant. Recently, the government said they may pledge a substantial £500 million (approx. U.S. $629 million) in financial support for the South Wales facility. This may be in addition to Tata Steel India’s planned investment of £700 million […]
Renewables/GOES MMI: Cobalt and Other Battery Metals Prices Rise Slightly
Since April, the Renewables MMI (Monthly Metals Index) has been in a tight sideways trend. Falling demand and slumping material production for battery metals in China, as well as an oversupply of materials continue to exert bearish pressure on the index. However, month-over-month, the index finally broke its sideways trend, rising by 4.75%. Chinese stimulus […]
Raw Steels MMI: HRC Steel Prices Resume Downtrend, Cliffs Looks to Acquire U.S. Steel
The Raw Steels Monthly Metals Index (MMI) moved sideways, with steel prices experiencing a modest 1.17% decline from July to August. Flat-rolled steel prices seemingly found a bottom at the end of June before experiencing a modest increase. By mid-July, prices returned bearish, edging downward during the remainder of the month. HRC prices ultimately traded […]
Steel Industry Disruption: Cleveland-Cliffs’ Jaw-Dropping Bid to Acquire US Steel Makes Waves
Late Sunday night, the Wall Street Journal reported that U.S. Steel had rejected an unsolicited offer from Cleveland-Cliffs for the company, valuing it at $7 billion. According to the report, Cliffs offered $17.50/share in cash plus 1,023 shares of Cliffs stock. U.S. Steel promptly rejected the offer and indicated that it would seek alternative proposals. […]
