The Construction Monthly Metals Index (MMI) fell by 6.1% for this month’s reading, as U.S. construction spending rose by 7.5% year over year in the first 10 months of the year. MetalMiner is hosting its final webinar of the calendar year tomorrow — Wednesday, Dec. 8 — during which the MetalMiner team will overview price predictions […]
Category: Ferrous Metals
Automotive MMI: Automotive sales remain constrained by limited supply
The Automotive Monthly Metals Index (MMI) dropped by 0.7% for this month’s reading. Stay up to date on MetalMiner with weekly updates – without the sales pitch. US auto sales Ford Motor Co. reported November U.S. sales increased by 5.9% year over year to 158,793 vehicles. Total truck sales increased by 4.6%. Meanwhile, SUV sales […]
NLMK to boost Mill 2000’s capacity by 7% after reheating furnace overhaul
Novolipetsk Iron & Steel (NLMK) is undertaking at its main production site in Russia upgrade work on one of the slab reheating furnaces, which will see hot rolling Mill 2000’s capacity rise by 7%, the steelmaking group said. The planned work will push Mill 2000’s annual rolling capacity up by about to approximately 6.23 million […]
This Morning in Metals: US steel capacity utilization down to 83.2%, steel prices muted
This morning in metals news: the U.S. steel capacity utilization rate fell to 83.2% last week; North American Stainless maintained its stainless steel fuel surcharge; and, lastly, crude oil prices have lost steam this week. Each month, MetalMiner hosts a webinar on a specific metals topic. The MetalMiner team will discuss price predictions for 2022 […]
European HRC prices fall as auto sales slump
Lower auto sales in Europe have put West European hot rolled coil prices under pressure. However, demand from construction is nonetheless helping to support prices for the flat-rolled product. “People want to invest their money into something,” one trader source told MetalMiner. We’re offering timely emails with exclusive analyst commentary and some best practice advice. […]
Global steel production falls 10.6%; steel prices soften but remain elevated
Yesterday, MetalMiner’s Stuart Burns touched on the aluminum market and plummeting inventories, a trend in stark contrast to former times of plenty. Meanwhile, in the steel market, global crude steel production totaled 145.7 million metric tons in October, the World Steel Association reported. Do you know the five best practices of sourcing metals, including steel? […]
Guest Post: America’s stainless steel shortage
(Editor’s note: The following is a guest post from C.J. Nord, C.P.M., CSCP, founder of the nonprofit Supply Chains for Good, and Harry Moser, founder and president of the Reshoring Initiative.) Don’t hold out hope for the U.S.’s stainless steel shortage to get better until you know of new supply coming online. There appear to […]
Week in Review: Stainless steel base prices rise; Biden signs infrastructure bill; European Commission slaps duties on stainless steel from India, Indonesia
Before we head into the weekend, let’s take a look back at the week that was and the metals storylines here on MetalMiner: Each month, MetalMiner hosts a webinar on a specific metals topic. The next webinar is scheduled for Wednesday, Dec. 8, during which the MetalMiner team will discuss price predictions for 2022. To […]
This Morning in Metals: Merchants Fleet expands BrightDrop EV order to 18,000
This morning in metals news: Merchants Fleet will expand its purchases of BrightDrop electric vehicles to 18,000; meanwhile, the Producer Price Index for metals and metal products increased in October; and, finally, the United States International Trade Commission issued a vote on freight rail coupler systems from China. You want more MetalMiner on your terms. […]
Metals industry to play major role in curbing carbon emissions
Metals will play a significant role in helping governments and companies to address climate issues by aiding the transition to cleaner energy and ultimately decreasing carbon emissions, industry watchers said. “The metals industry is crucial to facilitating this,” one analyst told MetalMiner. “If you want energy transition, it is not going to happen without metals […]