The Stainless Monthly Metals Index (MMI) rose by 3.8% month over month. Nickel continues to be within an overall uptrend. However, LME prices experienced significant volatility throughout October. Prices dropped as low as $17,810/mt in the early days of the month before they spiked to $20,475/mt by Oct. 21. Prices have since retraced and appear […]
Category: Ferrous Metals
This Morning in Metals: Consumer Price Index rises 0.9% in October
This morning in metals news: the Consumer Price Index for All Urban Consumers Rose by 0.9% in October; meanwhile, U.S. steel shipments rose by 21.3% year over year in September; and, lastly, the natural gas spot price at Henry Hub averaged $5.51 per million British thermal units (MMBtu) in October. MetalMiner has launched a full […]
Raw Steels MMI: Steel prices, demand soften
The Raw Steels Monthly Metals Index (MMI) dropped by 2.5% month over month. Stop obsessing about the actual forecasted steel price. It’s more important to spot the trend. Auto steel demand shows weakness Steel prices appear poised for a decline in coming months as auto steel demand shows weakness and new capacity is set to […]
This Morning in Metals: U.S. Steel reports Q3 net earnings of $1.5B
This morning in metals news: U.S. Steel reported its third-quarter earnings; new orders for manufactured goods increased in September; and, lastly, unemployment rates in September fell in 386 of 389 metropolitan areas. Stop obsessing about the actual forecasted steel price. It’s more important to spot the trend. U.S. Steel reports Q3 earnings U.S. Steel reported […]
This Morning in Metals: US steel capacity utilization dips to 84.3%
This morning in metals news: U.S. steel capacity utilization dipped to 84.3% last week; the OECD reported global foreign direct investment (FDI) flows rebounded during the first half of 2021; and, lastly, the United States International Trade Commission conducted a five-year sunset review of duties on alloy magnesium from China. Get social with us. Follow […]
This Morning in Metals: US, EU reach deal on Section 232 steel, aluminum tariffs
This morning in metals news: the U.S. and E.U. have struck a deal that will see to the former resuming imports of duty-free steel and aluminum from the E.U.; battery storage applications have shifted, the Energy Information Administration explained; and, lastly, compensation costs increased during Q3 2021. Want an occasional email from MetalMiner that highlights […]
Steel producers fear magnesium shortages will hit production in Europe
We wrote recently on the impact rising silicon, magnesium and manganese prices out of China were having on the aluminum industry. Many European mills had issued advisories, essentially putting their customers on notice about possible delivery delays and softening them up for the possibility of cost increases. Well, now it is steel’s turn to sound […]
Global crude steel production falls for fourth consecutive month
Global crude steel production declined in September, marking the fourth straight month of month-over-month declines. With volatile steel markets, knowing which strategy to execute and when can make all the difference between saving and losing money. See how MetalMiner looks at different market scenarios. Global crude steel production falls to 144.4 MT September global crude […]
US steel capacity utilization dips to 84.7%
The U.S. steel capacity utilization rate dipped to 84.7% last week, the American Iron and Steel Institute (AISI) reported Monday. The rate declined from 85.3% the previous week. Do you know the five best practices of sourcing metals, including steel? U.S. steel output dips Production last week totaled 1.87 million net tons, AISI reported. The […]
This Morning in Metals: Steel capacity utilization hits 85.3%
This morning in metals news: U.S. steel capacity utilization reached 85.3% last week; meanwhile, Lightsource bp touted the launch of a Colorado solar project and the world’s “first steel mill to be powered largely by solar energy”; and, lastly, Rio Tinto announced new decarbonization targets. We’re offering timely emails with exclusive analyst commentary and some […]
