British Steel has opened a rail stocking facility at its main works in Scunthorpe, in Lincolnshire, where the company produces rails. The £10 million ($12.6 million) facility will be able to hold up 25,000 metric tons of finished rails in 108-metre lengths, the Jingye-owned company stated on November 20. “All rails stocked will have undergone […]
Category: Ferrous Metals
Trump’s Return: Will Tariffs and Green Tech Define the Future of HRC Prices?
Big changes seem to be coming for the steel industry in Europe and the U.S. The European Commission, the executive arm of the EU, recently put forth a masterplan for a new industrial strategy in the 27-member bloc. Mainly the work of former Italian Prime Minister Mario Draghi, who now serves as special adviser to […]
Surging Exports and Stimulus Gains: Is China’s Steel Recovery Sustainable?
Are we seeing the first offshoots of a recovery in China’s steel industry? Some media outlets report that Chinese steel output turned positive for the first time in four months. This comes in the wake of the government’s efforts to restart the domestic economy, coupled with an improvement in demand for steel. In late September, […]
Construction MMI: The Fed November Interest Rate Cut Gives Construction Industry a Boost
The Construction MMI (Monthly Metals Index) managed to break out of its sideways trend, moving up by 6.73%. Construction news indicates that the market could see more bullish sentiment if the Fed continues its dovish stance on interest rates, dropping them steadily (get weekly updates on macroeconomic news impacting your metal buy with our weekly […]
British Steel Secures Resources to Keep Scunthorpe Thriving Through 2025
Steel news outlets recently discovered that longs and semis producer British Steel recently acquired natural resources to sustain production at its Scunthorpe plant through 2025. “At the same time, we remain in active discussions with the government, working together to ensure British Steel continues to play a vital role in meeting the UK’s infrastructure needs,” the […]
Raw Steels MMI: Steel Prices Hold Sideways Following Bearish Q3
The Raw Steels Monthly Metals Index (MMI) remained sideways with a slight upside bias, showing a modest 1.44% increase from October to November. U.S. flat rolled steel prices mostly moved sideways during October. HRC prices edged lower, with a 1.29% decline, while CRC prices rose by a mere 0.95%. HDG prices skipped the sideways trend […]
Renewables MMI: Mixed Market Signals & Policy Changes Potentially Incoming
The Renewables MMI (Monthly Metals Index) held firmly sideways, shifting down a mere 0.06%. With the incoming Trump administration, it is possible the renewable energy sector could witness market shifts in the upcoming year. The Biden Administration prioritized the expansion of renewable energy systems, including more specific projects like electric vehicles. However, the Trump Administration […]
Tata Steel’s Massive EAF Deal with Tenova Signals End of Blast Furnace Era
Indian steel industry leader Tata Steel recently announced that it had signed a contract with an Italian company to install a new electric arc furnace at its Port Talbot facility in Wales. Tata stated in an October 18 announcement that Lombardy-headquartered Tenova is to supply one EAF with an annual capacity of 3 million metric […]
Europe’s Steel Price Surge: Will Buyers Bite?
Steelmakers in Western Europe are trying to push through increases for their hot rolled coil, though sources noted that it was hard to determine where steel prices were at present. Reports indicate that mills are now seeking about €600 ($650) EXW per metric ton, reflecting an increase from deals that were as low as €520-530 […]
China’s Economic Struggles: Why Cutting Rates Isn’t Enough to Boost Steel Demand
No matter the type or amount of stimuli put in by the Chinese Government, the country’s economy is just not getting back into revival mode. Meanwhile, China’s beleaguered steel industry continues to suffer. As part of efforts to boost economic growth, China cut down its benchmark lending rates after the apex bank lowered interest rates […]
