India’s steel industry currently finds itself in a stressful predicament. Already reeling from cheap steel imports, the country is now even more worried about a surge of Chinese imports following the imposition of fresh tariffs on Chinese steel by U.S. President Joe Biden. Alongside the U.S., India and many other countries around the world have […]
Category: Exports
Rare Earths MMI: Chinese Rare Earth Profits Continue to Slide
The Rare Earths MMI (Monthly Metals Index) saw a massive rebound after four months of sharp declines. All in all, the index rose by a whopping 14.36%. This enormous increase could indicate that prices for rare earth metals finally found a bottom between March and April. Chinese Rare Earth Metals Profits Still Declining China’s mining […]
Rare Earths MMI: Is China Moving Down the Rare Earths Totem Poll?
The Rare Earths MMI (Monthly Metals Index) experienced a pretty significant drop month-on-month, falling 24.73%. Save for cerium oxide, all components of the index either fell or moved sideways. Weaker than anticipated downstream demand ended up hitting certain metals related to rare earth magnets particularly hard, causing a plummet in the index. Another significant factor […]
China’s Aluminum Exports to EU Plunge 30% Under Carbon Tariff
Earlier this week, the China Nonferrous Metals Industry Association reported a 30% decline in the volume of aluminum products exported from China to the European Union. Aluminum manufacturing analysts quickly pointed out that this most likely resulted from the bloc’s 2023 carbon border tariff. The EU’s Carbon Border Adjustment Mechanism (CBAM) represents a new way […]
India US Trade Leaders Ease Duties, Forge Steel & Aluminum Export Harmony
India US trade is primed to shift. Both countries seem eager to enter a new period of trade harmony, as India’s Ministries of Mines and Steel, along with the Department for Promotion of Industry and Internal Trade (DPIIT), recently set up an in-house system to oversee the export of steel and aluminum products to the […]
Rare Earths MMI: China Bans Export of Rare Earth Metals Technology
Overall, 2023 proved volatile for the Rare Earths MMI, with the sector experiencing sharp declines at the beginning of the year. This mainly stemmed from decreased Chinese production, supply chain disruptions, and the numerous nations seeking non-Chinese sources of rare earth metals. During Q2 and Q3, price action remained sideways, but global supply dynamics continued […]
Mexico Imposes 80% Tariff on Vietnamese Steel Amid Trade Tensions, Mixed Steel Prices
Neither China nor rising global steel player Vietnam had a very good 2023 due to fluctuating steel prices and demand. Like some other steel-producing countries, both have primarily resorted to flooding foreign markets with cheap steel products to remain in the black. This has led to massive protests from countries where these imports land, including […]
Steel Production and Export Pressure Push India’s Steel Trade into a Deficit
India officially reported a trade deficit in steel shipments in the April-October 2023 period. Analysts cited a continue drop in export demand and shifting steel production levels as the primary reasons why they total value of imports was more than that of exports. Furthermore, the continued slow demand from major markets like Europe continues to […]
Renewables/GOES MMI: Index Turns Down and Possible EV Trade War?
The Renewables MMI (Monthly Metals Index) remains volatile, especially when it comes to EV battery technology. Starting in August, the index experienced sharp up-and-down movements from month to month. Indeed, between October 1 and November 1, the index dropped 4.22%. Most index components, including grain-oriented electrical steel, dropped, with only a few managing to move […]
CBAM Update: How the USA and EU are Collaborating to Curb Chinese Steel Imports
This month saw the launch of the EU’s CBAM policy, a much-needed abbreviation for Carbon Border Adjustment Mechanism. Officials designed the trade policy to put a fair price on the carbon emitted during the production of carbon-intensive goods entering the European Union. They also hope it will encourage cleaner industrial production in non-EU countries. The policy […]
