Steel prices endured long-term declines throughout 2022. However, with so many geopolitical events and supply chain pinches, it is important to note that the market in general was quite volatile. Steel Prices: Q1 of 2022 Raw steels started the year with a huge bang, rising over 12% between January and February. China’s climate efforts caused […]
Category: Ferrous Metals
European Tariffs Planned for Carbon-Intensive Steel and Aluminum
Global metal manufacturing is already set to change in 2023. Indeed, the European Council and European Parliament recently reached a provisional agreement over the Carbon Border Adjustment Mechanism (CBAM). This would impose new tariffs on materials from carbon-intensive industries imported into the 27-member bloc. According to members of the Committee on the Environment, Public Health, […]
Destroyed Ukrainian Energy Grids Impact Steel Production
Steel production in Ukraine took a hit this past week due to the ongoing conflict with Russia. Industry watchers told MetalMiner that several Ukrainian steelmakers are facing production and rolling issues. Energy suppliers are rationing power distribution to major consumers. The rationing is the direct result of missile attacks and other military actions by Russian […]
Automotive MMI: Interest Rates Move Up, Consumer Demand Moves Down
The Automotive MMI (Monthly MetalMiner Index) finally broke its downward trend and traded sideways, inching up by 2.53%. Meanwhile, myriad factors continue to pressure metal prices. The demand for vehicles among consumers remains strong. However, low inventories throughout most of 2022 placed a huge strain on the index. Without parts, the manufacturing of new vehicles […]
China Reacts Strongly to WTO’s Ruling of Trump Administration Metal Duties
In the latest US steel news, a WTO ruling has sparked a new war of words between the United States and China. Last weekend, the WTO finally ruled on the 25% taxes on global steel imports and 10% import tariffs on aluminum imposed under former US President Donald Trump. The WTO dispute settlement panel ruled […]
Construction MMI: Aluminum Plate and Steel Rebar Reverse
The Construction MMI (Monthly MetalMiner Index) flatlined sideways, moving downward by a meager 0.07%. The overall volatility of metal prices remains a primary challenge to the index. The near-stationary index contrasts starkly with the downward 2022 trend. Aside from fluctuating metal prices, the industry also had its integrity tested by several other problems. These included […]
Raw Steels MMI: Where is the Bottom for Falling Steel Prices?
The Raw Steels Monthly Metals Index (MMI) fell by 2.34% from November to December. Ultimately, U.S. steel prices remain decidedly bearish. Meanwhile, hot rolled coil prices saw the most substantial decline, falling 12.6% month over month. Plate prices, on the other hand, mainly remained sideways but continued to edge slowly downward with a 2.9% decline. […]
Renewables/GOES MMI: Steel Plate Drops While Battery Metals Hold Strong
The December Renewables MMI (Monthly MetalMiner Index) traded sideways, practically in a straight line. Overall, metal prices within the index only dropped 0.83%. This sideways trend contrasts sharply with the steep drop renewables saw just six months ago. Battery metals within the index, such as cobalt and silicon, held a steady sideways trend, only rising […]
Iron Ore Futures to Rise as China Eases zero-COVID
China’s steady easing of COVID-19 restrictions finally allowed the beleaguered economy to begin reopening. Many experts expect a renewed demand for steel, which means an increased appetite for steel-making raw materials such as iron ore. Both analysts and traders believe the lifting the restrictions was a step in the right direction. This current positivity is […]
Mastering Metal Prices: 5 Sourcing Strategies That Only Pros Know
“It is a fact researchers have settled on – the 10,000-hour rule is a definite key in success.”– Malcolm Gladwell, ‘Outliers.’ For those of you who have not read Gladwell’s “Outliers,” no worries. Essentially, the key theme of the book involves the concept of practice. It states that those who dedicate 10,000 hours or more […]