The iron ore slump shows that the Chinese economy continues to struggle. Moreover, if things on the steel front do not improve quickly, demand will be low for the rest of the year. Indeed, the decline in iron ore prices, which recently hit a five-month low, has many analysts worried about the robustness of China’s […]
Category: Carbon Steel
Tata Steel’s UK Plant Struggling with Rising Costs and Decarbonization Challenges
Difficult trading conditions and a lack of clarity over state aid have put the future of Tata Steel’s UK plant into doubt. The Indian parent group also warned that current conditions would soon affect Tata Steel prices at Port Talbot. “A stress test conducted by the board to assess the potential impact of the economic […]
Automotive MMI: Vehicle Sales Up, Steel Prices Dropping
April saw a welcome boost in sales within the U.S. automobile market. New vehicle inventories are now in healthy shape. However, interest rates are still high, as are new vehicle prices. Moreover, the Automotive MMI index still has several factors working against it. Steel prices, notable HDG traded not only sideways, but completely flat. In […]
Raw Steels MMI: U.S. Steel Prices Slide as Construction Sector Poses Long-Term Risk
The Raw Steels Monthly Metals Index (MMI) moved down from April to May as all its components declined. After sharp upside movement during March, flat rolled steel prices saw their four-month uptrend falter throughout April. Meanwhile, hot rolled coil prices had risen over 82% from the beginning of the early December uptrend until prices peaked […]
Tata Steel Trials Injecting Hydrogen Gas into Blast Furnace to Cut Carbon Emissions
India’s steel giant, Tata Steel, recently announced it had successful injected hydrogen into one of its blast furnaces. Many tout it as the world’s first such experiment by a steelmaker on so vast a scale. The goal of such a process is to potentially reduce carbon dioxide emissions by replacing up to 20% of the […]
What’s Behind Declining Steel Prices in Northern Europe?
Hot rolled coil steel prices in northern Europe began declining over the past month. Sources told MetalMiner on April 25 that the downtrend was largely due to lower demand and aggressive import offers. One trader mentioned that North European mills are now offering €820 ($900) per metric ton EXW for August rolling and September delivery. […]
Renewed Steel Demand in China Causing Iron Ore Production to Rise
For the 1st quarter of this year, China’s iron ore imports hit a Q1 record. Altogether, prices climbed nearly 10% from January to March, reaching 29.3 million tons (MT). Indeed, March alone saw imports grow 1.8% to 100.23 MT. Helping these numbers were expectations of stronger steel demand as the Chinese economy continues to emerge […]
Renewables/GOES MMI: Slowing Economy Could Impact Renewable Energy Companies’ Projects
The Renewables MMI (Monthly Metals Index) dropped by 3.65% between March and April. This represents the index’s most significant drop since November 2022. Despite this, the index still has yet to break out of its sideways trend. However, the falling economy continues to keep both renewable energy companies and investors on edge. The Inflation Reduction […]
Construction MMI: Infrastructure Construction Remains Robust, Private Projects Feeling Recession Pains
The Construction MMI (Monthly Metals Index) narrowly missed trading flat. Overall, the index remained sideways, with just a minuscule drop of 0.13%. In the face of recent construction news, the index proved much less volatile than in the past three months. All three bar fuel surcharges within the index (Weekly Gulf Coast, Weekly Rocky Mountain, […]
Automotive MMI: HDG, Palladium and Shredded Scrap Steel Prices Jump
The Automotive MMI (Monthly Metals Index) rose significantly from March to April, jumping by 9.01%. This represents the highest rise the index has seen in over a year. Numerous drivers helped bring prices up, with every part of the index rising month-over-month, including: The steel parts of the index (in particular HDG) followed trend with […]
