For many years, most of the world has looked at China with some degree of trepidation where critical minerals are concerned. The reason? China currently produces about 60% of the world’s all-important rare earth metals and is responsible for roughly 90% of the refined rare earths available on the market. Now, there’s something more to […]
Category: Commodities
Renewables MMI: China’s New Decarbonization Initiatives, What it Means for Steel and Aluminum Buyers
The Renewables MMI (Monthly Metals Index) finally witnessed a significant increase in price action for the first time in a year. In total, the index ascended by 9.97%, drawing fresh attention to renewable resources. The main culprit for the increase in price action was a significant rise in neodymium prices, likely in response to China’s […]
Chinese Steel & Aluminum Buyers: Brace for Oncoming Crackdown!
It has been in the works for some time now. China is finally all set to add industrial metal sectors like steel and aluminum as well as cement to its national carbon trading market. According to media reports, the change will happen by the end of 2024. Essentially, this means domestic steel, aluminum and cement […]
Construction MMI: Steel Prices Dip Further with Ongoing Steel Demand Weakness Within China
The Construction MMI (Monthly Metals Index) broke further out of its sideways trend, dipping by 3.61%. The main culprits driving the index down month-over-month were falling steel rebar and h-beam steel prices, compelled by weak domestic demand within China. With China’s property sector not anticipated to strengthen in the short term, steel prices could continue […]
Automotive MMI: How is China’s Excessive Steel Dumping Impacting the Automotive Industry?
The Automotive MMI (Monthly Metals Index) moved sideways month-on-month, only rising by 0.78%. Hot dipped galvanized steel prices remained sideways, which helped to hold the index firmly in range. However, China’s recent dumping of excess steel supply into international markets could cause downward price movement and bearish sentiment for the remainder of 2024. China’s Hot-Dipped […]
Rare Earths MMI: U.S. Businesses Most Impacted by China’s Rare Earths Crackdown
The Rare Earths MMI (Monthly Metals Index) managed to reverse and pull up by 8.66% after experiencing steady declines since May. Numerous parts of the rare earths index reversed price action, including neodymium and terbium oxide. China’s recent crackdown on rare earth supplies has caused a shift in the global market, creating significant bullish sentiment […]
Trade War Heats Up: India Targets China with Heavy Aluminum Foil Duties
This week brought news of one more anti dumping proposal against China. This time around, a department under India’s Ministry of Commerce and Industry proposed imposing an anti dumping duty on the imports of Chinese aluminum foil. This follows multiple complaints by members of the domestic aluminum industry regarding cheap foil flooding the market. Aluminum […]
Cobalt Mining: A ‘Dirty’ Truth
The cobalt mining industry, particularly in the Democratic Republic of the Congo, has received backlash in both the past and present for human rights concerns. In the DRC, children as young as seven are sometimes employed to work in hazardous conditions to collect cobalt, a crucial material for electric car batteries, smartphones and other modern […]
Liberty Steel’s Polish Plant Faces Uncertain Future as Court Declares Bankruptcy
Big changes seem on the way for the Polish steel industry. Recently, local steel news outlets reported that several companies have expressed interest in leasing Polish plate producer Huta Częstochowa, which Liberty Steel acquired in 2021, after a local court declared the plant bankrupt in July. Among the potential suitors for the plant is the […]
Has China Lost its Grip on the Global Steel Industry?
Amidst continuing reports of an economic downturn with little or no sign of improvement now comes a report that the Chinese Government has suspended the system allowing approval of new steel plants. It is a move that could have significant implications for the Chinese steel industry and global steel manufacturing as a whole. According to […]