According to Liberty’s Steel’s parent company, GFG Alliance, the steel industry leader’s flats producer at Dunaújváros plans to target the automotive and defense sectors. This shift will occur upon the commissioning of two electric arc furnaces, which will replace the two blast furnaces currently occupying the Hungarian site. A source at the company told MetalMiner […]
Category: Commodities
Raw Steels MMI: Steel Prices Flatten Despite Bearish Conditions
The Raw Steels Monthly Metals Index (MMI) moved sideways, with a 1.15% decline from July to August. U.S. steel prices remained in search of a new bottom by the close of July. HRC prices dropped a total of 8.26% during the month, pushing them to their lowest level since December 2022. However, prices appeared to […]
Europe’s Answer to China’s Rare Earth Monopoly
Rare earth elements and semiconductors have taken on that critical national development role once occupied by oil and petroleum products. Despite the ongoing U.S.-China competition, the latter country controls a full 90% of the global rare earths supply, transforming these elements into potential political weapons. With regard to semiconductors, China’s Civilian-Military Integration Strategy aims to […]
Automotive MMI: EV Demand Failing to Boost Overall Metal Demand
The Automotive MMI (Monthly Metals Index) maintained a steady sideways trend month-over-month, only moving down 2.53%. Overall steel demand remains tepid, which left little bullish sentiment for hot-dipped galvanized steel. Meanwhile, other metals prices, including copper, dropped after their speculative rallies cooled off in July. Overall, the components of the automotive index had little to […]
Rare Earths MMI: China’s Metal Demand Weakens: What It Means for U.S. Rare Earth Buyers
The bears continued to make their way into the Rare Earths MMI (Monthly Metals Index), with yet another drop in price action, this time by 6.93%. Many factors pulled at rare earths prices overall, including oversupply, weak demand for metals within China and shifting dynamics in global rare earths supplies. It seems China’s over-production of […]
Bullish and Bearish Signals Clash in a Global Tug-of-War
Financial market performance came in in mixed and uncertain for July, with markets across the globe exhibiting both bullish and bearish sentiment. Meanwhile, a number of factors continued to pull markets in different directions, including economic indicators, central bank monetary policies, geopolitical tensions, and the upcoming U.S. presidential election. In the Middle East, geopolitical risks […]
Global Steel Prices Plunge as China Floods Market with Excess Supply
Would it be an exaggeration to say that the world’s steel narrative is unfolding in China? Everywhere one looks, there are steel industry experts complaining about Chinese steelmakers unloading their excess steel products. Take this report published at nikkei.com, which predicts that China could end the calendar year with a record-high export total, somewhere over […]
Unlocking Efficiency: The Art of Metal Price Forecasting
Metal price forecasting is essential for businesses that buy metal, particularly when dealing with commodities like copper, steel, and aluminum. By precisely projecting future metals prices, companies may make educated judgments regarding their purchasing strategy and ensure that they acquire the metals at the most advantageous periods. Companies that understand the importance of metal price […]
Aluminum Bulls Hit a Wall: Prices Plunge Despite Green Energy Hype
After aluminum prices increased in the spring and early summer, bulls became exuberant, believing that “green” initiatives like EVs, renewables, and associated power transmission technology would push the metal price higher. However, contrary to their expectations, the LME price continued to fall steadily since early June, a trend mirrored on China’s SHFE. This decline leaves […]
Ukrainian Steel Surge: Production Soars by One-Third in 2024
For the first half of 2024, Ukrainian steel manufacturing increased finished and semi-finished production by about one-third year on year. According to a July 15 report from Kyiv-based steelmaking association Ukrmetallurgprom, volumes for the first six months came to 3.14 million metric tons, representing a 32% rise from an estimated 2.37 million metric tons. The […]