An invasion of Ukraine by Russian armed forces could negatively impact Novolipetsk Steel’s (NLMK) export sales, due to possible sanctions by Western nations, one industry watcher told MetalMiner on Jan. 31. Steel distributors in Europe have become hesitant about what an invasion could mean in the event that they purchase steel from NLMK, the analyst […]
Category: Ferrous Metals
British Steel moving to EAF production to meet carbon emissions targets
British Steel aim to slash their carbon emissions 82% by 2035. This would fall in line with the UK’s commitments to the Paris Agreement and the country’s own carbon reduction targets, a company official said on Jan. 25. One way the company plans to achieve the decreases involves a new electric furnace in two to […]
Section 232 negotiations between the US and the UK
As an example of how trade disputes often have little to do with trade, the announcement this week that the US and UK would sit down for talks to resolve the Trump era “trade dispute” over steel and aluminium tariffs serves as a case in point. Back in March 2018, when the former US president […]
European steel prices at a crossroads
Healthy construction demand and increased activity from the auto sector are likely to push up northern European prices for hot rolled coil in January and into February, following decreases from the previous month, sources stated. Mills are now transacting material at around €900-920 ($1,020-1,045) per metric ton exw, down from previous transactions €980-1,000 ($1,110-1,135) heard […]
Raw Steels MMI: As steel prices fall, steelmakers look to scrap
The Raw Steels Monthly Metals Index (MMI) rose by 12.7% month over month to 121, as scrap prices made gains this past month. U.S. steel prices continue to retreat from their 2021 peaks. At the start of the year, hot rolled coil prices sat almost 18% below the October high. US steelmakers invest in scrap […]
Environment driving BHP’s investments in nickel
Nickel, traditionally largely consumed in the stainless steel industry, is enjoying strong support from its role as a lithium-ion battery enhancing metal. The use of nickel reduces the need for cobalt, significantly battery reducing costs. Not surprisingly car makers are scrambling to lock up supplies as Chinese battery firms get first to market investing in […]
Stainless MMI: Tariff exclusion could lead to more capacity
The Stainless Monthly Metals Index (MMI) rose by 1.8% month over month. Although nickel edged up slowly in price, it squeezed into a wedge that is susceptible to big time frame resistance. Prices continue to consolidate within an October-November 2021 high-low price range. A continuation to the upside with more volume from the bulls could […]
Construction MMI: Construction spending gains, pace of ABI growth slows
The Construction Monthly Metals Index (MMI) rose by 3.3% for this month’s reading, as construction spending picked up in November. U.S. construction spending reached a seasonally adjusted annual rate of $1,625.9 billion in November, or up 0.4% from October, the Census Bureau reported. Furthermore, the November rate marked a 9.3% year-over-year increase. Meanwhile, through the […]
This Morning in Metals: U.S. steel prices continue to cool
This morning in metals news: U.S. steel prices have continued to decline; OPEC will continue its output increase schedule in February 2022; and, lastly, Alcoa at the end of last year announced plans to curtail production at its San Ciprián aluminum smelter in Spain. Does your company have a steel buying strategy based on current […]
India aims to move up steel value chain under specialty steel scheme
India is trying to save some export bucks in the new year where specialty steel is concerned. In 2022, India plans to focus on increasing per capita steel consumption enhancing steel raw material security. All the metals intelligence you need in one user-friendly platform with unlimited usage — request a MetalMiner Insights platform demo. India […]