According to an official with the country’s new government, an additional £2.5 billion ($3.2 billion) will be made available for the UK steel manufacturing sector. This is in addition to the amount the government has already pledged for new furnaces at Tata Steel’s Port Talbot site. “There is a better deal available for Port Talbot […]
Category: Ferrous Metals
Construction MMI: Base Metals Stabilize, but Construction Costs Still Elevated
The Construction MMI (Monthly Metals Index) held true to its year-long sideways trend, only budging down 1.07%. While base metals prices in the construction market remain fairly stable, construction projects overall still continue to battle with elevated rates. This is especially true in the private sector. However, the market continues to push through more than […]
Raw Steels MMI: Steel Prices Bearish as U.S., Mexico Take Action on Chinese Steel
The Raw Steels Monthly Metals Index (MMI) fell 4.5% from June to July. Although the pace of declines appeared to slow from the previous month, U.S. flat rolled steel prices remained bearish during June. HRC prices fell nearly 7%, followed by an almost 5% decline in HDG prices and a modest 2% drop in CRC […]
Zimbabwe’s $1.5 Billion Steel Plant Roars to Life
Zimbabwe’s got itself a brand new iron and steel manufacturing plant, courtesy of the Chinese. This U.S. $1.5 billion Chinese-built plant’s blast furnace recently came online and is already producing pig iron, a crucial ingredient for making steel. The team over at Dinson Iron and Steel Company (Disco), the Zimbabwean subsidiary of Chinese steel giant […]
Liberty Steel Ostrava’s Conundrum: a Plunge into Insolvency
Liberty Steel Ostrava, a steel manufacturing plant in the Czech Republic, recently entered an insolvency process. This comes after its parent company, GFG Alliance, put the plant up for sale and filed for judicial reorganization in mid-June. A source within GFG Alliance told MetalMiner that a regional court in Ostrava, which lies in the eastern […]
Battle for Steel Supremacy: India vs. China in the Global Steel Trade
With a new government in place following the recent general elections, Indian steel manufacturing firms are again clamoring for the imposition of more import duties and other measures to curb cheap steel imports from China. India ended up being a net importer of steel during the April-March 2024 period. According to provisional government data, this […]
European Steel Mills Brace for July: Import Caps and Tariffs Shake Market
Sources said that steel manufacturing entities in northern Europe are unlikely to seek price increases on hot rolled coil until July, despite events since May that could create conditions to raise them. “If you do that, you seem very opportunistic,” one source told MetalMiner. Mills were seeking €630-650 ($675-695) per metric ton EXW in late […]
Renewables/GOES MMI: Despite Slight GOES Supply Gut, U.S. Still Lacks Enough Transformers for Renewable Energy
The Renewables MMI (Monthly Metals Index) witnessed more notable declines month-over-month than last month’s MMI, declining by 7.09%. Renewable energy news sources indicate there exists a number of renewable energy projects within the U.S. currently ready to begin work, but are on hold due to an array of factors. Furthermore, solar and wind fields still […]
Raw Steels MMI: Steel Prices Decrease, Surge of Vietnamese Steel Imports Fuel Dumping Concerns
The Raw Steels Monthly Metals Index (MMI) remained sideways, with a modest 1.33% decline from May to June. As a whole, U.S. flat rolled steel prices appeared bearish, accelerating declines throughout June. HRC prices fell nearly 9%, their most significant month-over-month drop since February. CRC and HDG prices saw respective 6% declines, while plate prices […]
Preparing for Annual Contract Negotiations: A Guide for Metal Sourcing Companies
Metal sourcing firms must have a thorough awareness of market trends and metal prices to prepare for the approaching yearly contract negotiations in the fall. This involves identifying any swings in metals prices through in-depth investigation and analysis while also comprehending the variables behind these swings. Each week, MetalMiner’s newsletter covers these exact patterns. Sourcing […]