The Raw Steels Monthly Metals Index (MMI) fell by 8.73% from July to August. All in all, U.S. steel prices continued their descent, leaving cold rolled coil and hot dipped galvanized prices at their lowest point since January 2021. Meanwhile, hot rolled coil prices fell well beneath the $1,000/st mark, reaching their lowest point since […]
Category: Ferrous Metals
Stainless MMI: Nickel Prices Hit Bottom by Mid-July
The Stainless Monthly Metals Index (MMI) dropped 8.87% from June to July. After nickel prices hit a bottom mid-July, they followed the base metal trend upward. By the beginning of August, however, the rebound had faltered, and prices resumed their descent. Both last month’s increases and this month’s declines were extremely narrow. For that reason, […]
Russian Steel Producer MMK Added to Latest US Sanctions List
On August 2, the United States officially added integrated steelmaker Magnitogorsk Iron & Steel (MMK) and its chairman Viktor Rashnikov to its list of sanctioned entities. The move is yet another punitive measure in response to Russia’s February invasion of Ukraine, in hopes that the steel manufacturing sanction will place more economic pain on Russia. […]
Automotive MMI: Downward Trend Continues, Experts Lose Confidence in the Automotive Market
The Automotive MMI (Monthly Metals Index) dropped by 6.32% this past month, a downward trend it has been maintaining since May. The drop comes despite valiant efforts to put out some of the fires plaguing the car manufacturing industry. But with the microchip shortage, surging inflation, and issues with both supply and demand, the automotive […]
Russia, Ukraine, and the “New Normal” of Global Steel Supply
Steel prices have waxed and waned more than usual this past year. MetalMiner has reported extensively on all of the various factors contributing to this unpredictability. Of course, you can’t ignore China’s rolling COVID lockdowns or the year-long supply chain hangups. However, we feel one of the biggest X factors for the global steel supply […]
Raw Steels MMI: Hot Rolled Coil Prices Hit New Lows
U.S. steel prices continued their decline this month alongside other steel markets. Hot rolled coil, cold rolled coil, and hot dipped galvanized prices all dropped beneath their early March bottoms. HRC prices, in particular, continue to close in on the $1,000/st mark, while plate prices saw their second consecutive month-over-month decline.The Raw Steels Monthly Metals […]
Construction MMI: Indices and Demand Decline for Another Month
The Construction MMI (Monthly Metals Index) extended its decline from last month. Altogether, the index fell 10.69% from June to July. China is Poised to Inject Big Money into Infrastructure News recently broke that China’s State Council is preparing to increase credit lines across the board, providing an additional 800 billion yuan to fund […]
Renewable/GOES MMI: Renewable Prices Nose-Dive, GOES Remains Strong
The Renewables MMI (Monthly Metals Index) dropped significantly from June to July. All in all, the index fell a staggering 22.05%. How will this impact steel prices today? Problems With China’s Solar Panel Manufacturing Dominance Some experts say that initiatives aimed at creating a zero-carbon future are being impacted by dependence on Chinese solar panels. […]
Plate and HRC Steel Production Strained as Factories Shut Down
Metinvest, the Ukrainian steel production and mining group, recently began the process of restarting several of their Italian flats rolling mills. The factories had been offline for scheduled maintenance throughout May. And with global supplies strained, both Metinvest and the market are welcoming the much-needed additional steel production. Metinvest’s plate and hot rolled coil mill […]
UK Proposing Extension of Protectionist Steel Measures
In desperate times, politicians turn to increasingly desperate policies to prop up support. This remains the case for British steel. Recently, the UK’s Boris Johnson has been dodging accusations that he repeatedly lied to parliament. This, combined with his seeming inability to admit his failings, has pushed political turmoil in the country to a fever […]