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 […]
Category: Ferrous Metals
Renewables/GOES MMI: Index Goes Up, Lithium-Ion Battery Dilemmas
The Renewables MMI (Monthly Metals Index) saw a welcome boost month-on-month, rising 6.27%. Grain-oriented electrical steel, silicon, and neodymium were the main factors that increased the index, while the lithium-ion battery market remains a point of contention. In the case of silicon, futures initially rose back in June due to production cuts within China, the […]
Construction MMI: Steel Prices Drop & Construction Impact on Steel Demand
Month-over-month, the Construction MMI (Monthly Metals Index) narrowly missed trading completely flat, ultimately moving sideways with just a 0.2% increase. Meanwhile, steel prices, specifically h-beam steel and steel rebar costs, either dropped or traded sideways, as did bar fuel surcharges. Energy have risen at an astounding rate since 2021 due to high inflation and geopolitical […]
Raw Steels MMI: Will Cliffs’ Price Hike Shift Steel Prices?
The Raw Steels Monthly Metals Index (MMI) rose 3.45% from August to September. Flat rolled steel prices remained bearish throughout September. Meanwhile, hot rolled coil prices continued to show the largest decline, falling to their lowest levels since December 2022. By the end of September, prices sat only 4% above their last major low. Meanwhile, […]
Montenegrin Powerhouse EPCG Željezara Nikšić to Restart by 2024
Regional media reports state that Montenegrin specialty steels producer EPCG Željezara Nikšić aims to restart production by the end of 2023, possibly impacting steel prices. The facility went offstream in 2021, dramatically reducing steel output in the small Balkan country. Analysts remain eager to see how the restart might affect steel prices in the region. […]
Raw Steels MMI: How Will the UAW Strike Impact the Bearish Market, Steel Prices?
The Raw Steels Monthly Metals Index (MMI) moved sideways, with a 2.83% decline from August to September as steel prices dropped almost across the board. Indeed, flat-rolled steel prices continued their downtrends throughout August. Amid uninterrupted week-over-week declines, HRC prices saw the largest drop, falling 10.3% throughout the month. By mid-September, prices reached their lowest […]
UK Government & Tata Steel Reach Tentative Agreement on Port Talbot Plant, Risking 3,000 Jobs
The UK government and Mumbai-headquartered Tata Steel have reached a preliminary agreement over a funding package regarding the Port Talbot plant in South Wales. The package is part of a £1.25 billion ($1.55 billion) plan to decarbonize Port Talbot’s operations. However, concerns over jobs and the potential effect on local steel prices remain. A September […]
Renewables MMI: Grain-Oriented Electrical Steel Prices Skyrocket
Month-over-month, the Renewables MMI (Monthly Metals Index) ended up dropping significantly by 11.16%. The main culprit for this was cobalt prices dropping significantly in August, despite prices flattening again in the beginning of September. Steel plate prices also found support as of September 6th. Most other components of the index moved sideways or slightly up, […]
European Steelmakers Pursue €20 Hike on Steel Prices Amid Sluggish Demand
Steelmakers in Northwestern Europe are seeking an increase of €20 ($20) per metric ton on hot rolled coil. Market sources told MetalMiner that the hike in steel prices comes despite subdued demand for the flat rolled product going into September. “I think that they are trying to push up prices against input prices,” one source […]
Is the UK Government Playing Politics in the Tata Steel Port Talbot Transition?
Tata Steel is in talks with the UK government to acquire £500 million ($630 million) in funding. The steelmaking multinational confirmed the funds would help the Port Talbot plant replace its operating blast furnaces with electric arc furnaces. The news comes as the Tata Steel share price recently reached a high for the year. “Given […]