This morning in metals news, U.S.-China trade talks have led to a tenuous truce, Nippon Steel says strong demand is easing the blow of the U.S.’s steel tariff, and shares of US Steel and AK Steel dropped on the heels of the latest developments in the U.S.-China trade talks. Need buying strategies for steel? Try […]
Category: Ferrous Metals
CRISIL Report: Resolution of Indian Stressed Steel Assets Will Alter the Sector
Even as news came in late last week that some of India’s biggest steelmakers were set to expand production after reporting solid quarterly earnings amid strong steel prices, well-known research agency CRISIL has said in a report that resolution of stressed steel assets – those that are bankrupt – will “alter” the Indian steel sector […]
Momentum Slows for Domestic Steel
Domestic steel momentum seems appears to have finally started to slow down. So far this month, hot-rolled coil, cold-rolled coil, hot-dip galvanized and plate prices have begun to trade sideways. Need buying strategies for steel? Try two free months of MetalMiner’s Outlook The slower pace of the increases should come as no surprise, as domestic […]
This Morning in Metals: China MES, Steel Production and NAFTA
This morning in metals news, we updated our China MES page on market-economy status, steel production dropped in the Great Lakes region and the White House still hopes for a deal on the North American Free Trade Agreement (NAFTA) before the Thursday deadline. Need buying strategies for steel? Try two free months of MetalMiner’s Outlook […]
Raw Steels MMI: Imports From China Rise Despite Section 232 Tariffs
The Raw Steels Monthly Metals Index (MMI) increased one point this month, moving up to 89. Domestic steel price momentum seems slower than at the beginning of 2018, as domestic steel prices traded more sideways. Need buying strategies for steel? Try two free months of MetalMiner’s Outlook Domestic steel prices remain at a more than […]
Stainless Steel MMI: Subindex Inches Upward on Rising LME Nickel Prices
In May, the Stainless Steel Monthly Metals Index (MMI) once again inched one point higher. The current reading stands at 77 points. Need buying strategies for steel? Try two free months of MetalMiner’s Outlook The subindex inched higher driven by increasing LME nickel prices. Meanwhile, other related metals in the stainless steel basket traded flat. […]
This Morning in Metals: Tariff Exemption Deadline at Midnight for E.U., Others
This morning in metals news, the deadline for Section 232 tariffs exemptions for certain countries falls tonight at midnight, AK Steel’s stock is up and the LME copper price tracked up Monday. Need buying strategies for steel? Try two free months of MetalMiner’s Outlook Tariff Exemption Expiration Approaches Several countries negotiated temporary exemptions from the […]
This Morning in Metals: Steels Mills Shut Down in China’s Xuzhou
This morning in metals, steel mills in China’s second-biggest steelmaking province are shutting down, U.S. Steel reports its Q1 financials and Ecuadorian officials are engaging in talks to potentially bring a copper refinery to the country. Chinese Mills Shut Down in Pollution-Curbing Measure Several steel mills in the Chinese city of Xuzhou have been shut […]
This Morning in Metals: U.S. Steel Imports Jump 34% in March
This morning in metals, steel imports rose in March, global steel output was also up in March and miner Antofagasta reported a 10.5% drop in production in Q1. Need buying strategies for steel? Try two free months of MetalMiner’s Outlook U.S. Steel Imports Jump in March Citing U.S. Census Bureau data, the American Iron and […]
EUROFER Says E.U. Steel Safeguard Measures Must Prevent Surge of Imports
The E.U.’s steel safeguard mechanism should work to prevent a “surge of imports” but should not “close the market,” European Steel Association (EUROFER) Director General Axel Eggert said Monday. Need buying strategies for steel? Try two free months of MetalMiner’s Outlook “The safeguard mechanism should be broad, but the purpose is not to close the […]