Steel prices and gas are the primary topics of conversation today. It seems that steel traders in China are seeking more buyers abroad for their finished steel products. Meanwhile, Russia is mulling cutting gas supplies to the EU. Gas prices have an enormous impact on steel prices. China: Lockdowns at Home, Low Demand Abroad The […]
Category: Ferrous Metals
Construction MMI: Construction Spending Moves in Opposite Directions
The Construction Monthly Metals Index (MMI) fell by 2.9% from April to May, with construction spending averaging a very minor increase. To see our take on macroeconomic indicators, subscribe to the free MetalMiner Weekly update email. Labor, Supply Chain Drag U.S. Non-Residential Construction Spending in March According to the U.S. Census Bureau, non-residential construction spending […]
Raw Steels MMI: Steel Prices Fall As Demand Concerns Mount
The ascent for U.S. steel prices faltered as HRC, CRC, and HDG prices began to fall in early May. Plate prices also took a big dip. All in all, the Raw Steels Monthly Metals Index (MMI) fell by 8.9% from April to May. Know what to do when the market shifts. Related article: The […]
Renewables Monthly Metals Index (MMI) Drops with Steel Prices But GOES Rises
The Renewables Monthly Metals Index (MMI) fell 6.4% with notable drops in steel prices, particularly for plate. Source: MetalMiner Insights Biden’s Plan for a More Renewable US Breaking news in the US Green Energy push. The Biden Administration has released an “action plan” intended to accelerate permitting on new green projects. The goal is to loosen […]
Automotive MMI: Auto Sector Remains Constrained
The Automotive MMI (Monthly Metals Index) held flat from April to May. This was largely the result of a number of factors working in concert. Below, we’ll dig deeper into the automotive marketplace to see if we can determine what to expect for the rest of 2022. Automotive MMI: China Auto Sales, Production Plunge In […]
UK Government Freezes Steel Producer Evraz
The UK government recently announced an asset freeze on London-headquartered metal and mining group Evraz. Authorities claim that Evraz is receiving benefits or support from the Russian government to conduct business in strategic and economic sectors. True or not, the freeze has broad implications for global steel production. From steel to copper and beyond, it’s […]
The Future of Steel Supply: The Facts Thus Far
It’s first-year economics: everything comes down to supply and demand. Historically, the push and pull between these two massive market forces are cyclical, and that includes steel. When you have more demand than supply, prices go up. Eventually, the prices get so high that people stop buying. After a while, the steel supply builds up, […]
Steel Production Forecast: China’s Loss is India’s Gain
The global steel story for the last month or so has centered around two main players: Russia and Ukraine. Now, the spotlight has shifted (if momentarily) to China and India. As two of the world’s largest steel exporters, what these countries have to say could greatly impact the global steel production forecast. A Tale of […]
Buying Strategies in Falling Aluminum and Steel Price Markets
Recent key shifts in macroeconomic indicators could significantly impact both aluminum and steel prices. Historically, the best way for companies to protect themselves during times of uncertainty is to change buying strategies. Most commodities have traded in a bull market for the past one and a half years. This has allowed companies of all sizes […]
Steel prices slipping in Europe
Steel prices for hot rolled coil in Europe have started to decline as end users push back from earlier offers. Meanwhile, benchmark iron ore prices in China dropped, due to the country’s zero-Covid policy. One analyst noted that steelmakers in Europe are cutting back their production. “Steel would get a bit of support from production […]
