The UK government’s Department for Business and Trade has set up a committee called the Steel Council to secure long-term steelmaking in the country, where the steel industry continues to struggle. According to a January 7 statement from the ministerial department, the new council will provide advice on rebuilding the sector as well as its […]
Category: Ferrous Metals
Raw Steels MMI: Nippon Acquisition of U.S. Steel Blocked, Bad News for Steel Buyers
The Raw Steels Monthly Metals Index (MMI) remained sideways with a slight downside bias, falling 1.49% from December to January. Meanwhile, the blocked sale of U.S. Steel could significantly affect steel prices in 2025. Biden Blocks Nippon-U.S. Steel Sale After the Committee on Foreign Investment in the U.S. (CFIUS) came to a split decision, the […]
Renewables MMI: Q4 Battery Metal Results & Trump Administration Anticipated Market Shifts
The Renewables MMI (Monthly Metals Index) dropped by 5.47% from December to January. Overall, renewable energy materials and battery metals experienced a somewhat bullish Q4. However, weak demand within China weighed heavily on metals like lithium and copper, and many market analysts expect the incoming Trump administration to place additional bearish sentiment on renewable energy […]
India Faces Steel Shock: Record Chinese Imports Threaten Domestic Producers
For India’s steel industry, what was feared is coming true. Initial government data shows that imports of finished steel from China hit a new record in the first eight months of the fiscal year ending March 2025. The news quickly sparked concerns among domestic steelmakers about the influx of cheaper Chinese shipments. India is the […]
EU Steel Crisis: Will Safeguards Save the Day?
In response to an ongoing crisis threatening the EU steel industry, the European Commission recently initiated a review of steel safeguards on imports. The move followed a request by 13 member states within the European Union. “The request is based on the challenging situation facing the EU steel sector, which has been exacerbated by an […]
Hot Rolled Coil Prices in Europe Increase: Mills Push for Revenue Recovery
Prices for hot rolled coil in Western Europe have risen further in the past month as mills seek to regain lost revenue from the declines of 2024. As the steel industry looks to 2025, this could have significant implications for prices and partnerships. “People are buying before year’s end. I’ve got several bids,” one market […]
ArcelorMittal Hunedoara Halts Steel Production Amid Economic Downturn
Difficult market conditions have prompted Romanian steel industry leader ArcelorMittal Hunedoara to reduce production until year’s end. According to a notice provided to the Bucharest Stock Exchange, the longs producer’s board of directors decided to reduce production from December 9-31 and pay 75% of salaries to employees impacted by the steps. The December 6 notice also […]
Construction MMI: China’s Export Tax Rebate Reverberates on U.S. Construction Market
The Construction MMI (Monthly Metals Index) held its sideways trend, dropping by a slight 1.09%. Despite a torrent of construction news, the index didn’t budge much month-over-month and had a minimal reaction to recent interest rate drops. The Fed will likely need to drop interest rates more aggressively for the construction index to display any […]
Raw Steels MMI: Steel Prices Hold Steady Ahead of 2025
The Raw Steels Monthly Metals Index (MMI) steel prices for the month remained consolidated, with a modest 1.78% decline from November to December. Mills Keep a Lid on Production, Steel Prices After a disappointing Q3 for U.S. flat rolled steel prices, mills appeared to take capacity discipline seriously in the final months of 2024. The […]
ThyssenKrupp Steel Slashes Jobs Amid European Steel Crisis
ThyssenKrupp Steel (TKS) recently announced plans to cut up to 11,000 positions. In a blow to the struggling EU steel market, the German steelmaker stated it would also reduce rolled production by an average 23%. “This is the company’s response to the further consolidation of fundamental and structural changes in the European steel market and […]
