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 […]
Category: Ferrous Metals
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 […]
EU’s Russian Coal Ban Set to Impact Metal Prices
On April 8th, the European Union announced plans to ban imports of Russian coal. This, of course, comes in the wake of that country’s February invasion of Ukraine. The decision is part of the fifth round of sanctions against the Kremlin. And with the Russian economy already poised for a massive contraction, prices – including […]
Stainless MMI: Nickel prices trade down but remain elevated amid lower LME volumes
The Stainless Monthly Metals Index (MMI) jumped by 25.07% from March to April, as nickel prices remained elevated. Nickel prices continue to trade slightly downward. However, nickel prices remain elevated from pre-invasion levels. Volume flow fluctuated among exchanges in recent days due to distrust of the LME, while nickel prices began to trade within an […]
Raw Steels MMI: US steel prices reverse direction, continuing their upward trajectory
The Raw Steels Monthly Metals Index (MMI) increased by 15.14% month over month, as U.S. steel prices picked up this past month. Steel prices rise U.S. steel prices rose in March. Plate prices skipped the price descent and climbed to new all-time highs. Meanwhile, HRC, CRC and HDG hit a bottom in early March and […]
Russia’s ‘ruble ransom’ — how oil demands might affect aluminum prices, steel prices
Recently, Russian President Vladimir Putin made some tough talk about forcing “unfriendly countries” to pay for Russian gas in rubles, leading us to wonder how that might impact aluminum prices and steel prices. There are fears that Russia’s economic isolation will begin to affect aluminum prices or steel prices. Those impacts would further burden manufacturers […]