No matter where in the world you go and what energy source you’re using, energy transfer requires transformers. Be it a nuclear power facility, a power plant running on natural gas, a wind field, or a plant running on hydropower. The energy generated in these facilities cannot light up homes, businesses, and schools without transformers. […]
Category: Commodities
Is the Face of the Steel Industry Changing?
After weathering a bumpy ride throughout 2022, one of the world’s most traded commodities still isn’t out of the woods just yet. Though steel prices rose across the board over the past few weeks, mills around the world remain shuttered, and demand continues to fluctuate. Zero-COVID and limited energy across places like Europe are just […]
NLMK La Louvière Mill to Stay Shuttered Until Summer
In steel news, Belgium’s NLMK La Louvière is unlikely to resume operations at one of its two hot rolling mills before summer in Belgium. NLMK shuttered the mill after a series of fires in late 2022 knocked it out. “One of the two lines does not work at all,” a source close to the plant […]
India Aims to Increase Domestic Coking Coal Production Twofold by 2030
For now, trade relations between Australia and China are sketchy at best. Therefore, Australia has started looking for other markets to ship commodities like ore and coking coke, one such market being India. However, over the past few months, the world has learned that many Indian steel mills have replaced “costlier” Australian coking coal with […]
Is the LME’s Role as the Go-to-Price Point for Nickel Over?
Doomsters have predicted the end of the LME before. Still, after 146 years and counting, the LME is still with us and the go-to nickel price point. However, volumes have tanked since the LME nickel debacle in March of 2022. In fact, the problems no longer relate just to nickel, but the entire non-ferrous metals […]
Liberty Steel UK Cuts its Steel Production
Liberty Steel UK (LSUK) plans to reduce steelmaking and mothball some of its UK assets as part of restructuring plans. The group instead wants to focus on high-value, alloy-steel production in order to remain competitive. “Despite the injection of £200 million ($244 million) of shareholder capital over the last two years, the production of some […]
Global Precious Metals MMI: Prices Rally, Downturn Likely
The Global Precious Metals MMI (Monthly MetalMiner Index) traded upwards by 3% as precious metal prices advanced. Gold, silver, and palladium all began a rally coming into 2023. However, that rally has solid potential for both a short and long-term downturn. The surge in the index price was mainly due to silver and gold bullions […]
Renewables/GOES MMI: Wind Turbine Production Threatened by Steel Price Hikes
The Renewables MMI (Monthly MetalMiner Index) began showing signs of a possible reversal month-over-month, edging up 3.42%. Renewable resources, meanwhile, continue to see significant global investment. MetalMiner noted in its Raw Steels MMI that steel prices found a bottom month-over-month. This impacted the renewable resources index heavily. After all, much of the index consists of […]
China’s Reform Commission Threatens Crackdown on Iron Ore Hoarders
The global iron ore price may be in for a bit of a ride. Sector analysts foresee high price volatility in the first months of 2023, mainly due to the increasing number of coronavirus cases in China. Adding fuel to the fire is the fact that the government there has warned it will be “paying […]
Stainless MMI: Nickel Prices Pull Back as Downside Risk Mounts
The Stainless Monthly Metals Index (MMI) rose 14.58% from December to January as nickel prices retreated. Nickel prices continued to rally throughout December. But by January, prices began to show minor pullbacks that could become the beginning of a short-term sideways trend. Until prices break the new range, the market direction will remain unclear. Market […]