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 […]
Category: Commodities
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 […]
Stainless MMI: Stainless Inventories High, Mill Lead Times Low as Base Prices Hold Firm
The nickel price index continued to trend downward, as it fell to its lowest level since July 2022 by mid-September. Following an over 7% decline during August, prices fell nearly 3% during the first two weeks of September. As prices drop toward historical support zones, they come close to wiping out nearly all gains from […]
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, […]
Iron Ore Price Index Soars 4% on China’s Economic Rebound, Easing Inflation in Sight?
According to this report, the most-traded January iron ore on China’s Dalian Commodity Exchange (DCE) DCIOcv1 ended daytime trading 2.41% higher at 851.5 yuan (US$116.80) a metric ton. The next day, the iron ore price index surged by 4%, surpassing US $117 per ton. Trader optimism largely fueled the price jump, as many felt encouraged […]
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 […]
