Market participants report that prices for hot rolled coil in northern Europe continues to decline. The cause for the alarming steel news mainly concerns pressure from imports. Additionally, low demand and oversupply have been contributing factors in price fluctuations, with the problem persisting since early April. “The problem is not with Germany, but rather with […]
Category: Ferrous Metals
Renewables/GOES MMI: Summer to Test Power Grid, Global Hunt for Transformers Continues
The Renewables MMI (Monthly Metals Index) dropped again this month, this time by 6.01%. Month-over-month, every part of the index fell except for U.S. plate steel. Somewhat weaker steel demand impacted Korean and Chinese steel plate prices, causing them to drop. Meanwhile, cobalt and silicon continued to fall due to oversupply. That said, the long-term […]
Tata Steel’s UK Plant Struggling with Rising Costs and Decarbonization Challenges
Difficult trading conditions and a lack of clarity over state aid have put the future of Tata Steel’s UK plant into doubt. The Indian parent group also warned that current conditions would soon affect Tata Steel prices at Port Talbot. “A stress test conducted by the board to assess the potential impact of the economic […]
Construction MMI: Architecture Sector Sees Slight Recovery
Since December 2022, the Construction MMI (Monthly Metals Index) has seen multiple factors pull it up and down. Indeed, steel price hikes, high interest rates, government funding for infrastructure and recession fears have all pummeled the index. Ultimately, the index experienced another sideways movement between April 1 and May 1, though it notably traded down […]
Automotive MMI: Vehicle Sales Up, Steel Prices Dropping
April saw a welcome boost in sales within the U.S. automobile market. New vehicle inventories are now in healthy shape. However, interest rates are still high, as are new vehicle prices. Moreover, the Automotive MMI index still has several factors working against it. Steel prices, notable HDG traded not only sideways, but completely flat. In […]
Raw Steels MMI: U.S. Steel Prices Slide as Construction Sector Poses Long-Term Risk
The Raw Steels Monthly Metals Index (MMI) moved down from April to May as all its components declined. After sharp upside movement during March, flat rolled steel prices saw their four-month uptrend falter throughout April. Meanwhile, hot rolled coil prices had risen over 82% from the beginning of the early December uptrend until prices peaked […]
Tata Steel Trials Injecting Hydrogen Gas into Blast Furnace to Cut Carbon Emissions
India’s steel giant, Tata Steel, recently announced it had successful injected hydrogen into one of its blast furnaces. Many tout it as the world’s first such experiment by a steelmaker on so vast a scale. The goal of such a process is to potentially reduce carbon dioxide emissions by replacing up to 20% of the […]
What’s Behind Declining Steel Prices in Northern Europe?
Hot rolled coil steel prices in northern Europe began declining over the past month. Sources told MetalMiner on April 25 that the downtrend was largely due to lower demand and aggressive import offers. One trader mentioned that North European mills are now offering €820 ($900) per metric ton EXW for August rolling and September delivery. […]
Renewed Steel Demand in China Causing Iron Ore Production to Rise
For the 1st quarter of this year, China’s iron ore imports hit a Q1 record. Altogether, prices climbed nearly 10% from January to March, reaching 29.3 million tons (MT). Indeed, March alone saw imports grow 1.8% to 100.23 MT. Helping these numbers were expectations of stronger steel demand as the Chinese economy continues to emerge […]
Renewables/GOES MMI: Slowing Economy Could Impact Renewable Energy Companies’ Projects
The Renewables MMI (Monthly Metals Index) dropped by 3.65% between March and April. This represents the index’s most significant drop since November 2022. Despite this, the index still has yet to break out of its sideways trend. However, the falling economy continues to keep both renewable energy companies and investors on edge. The Inflation Reduction […]
