Unusually, the global steel market is diverging in the opposite direction from “normal.” Historically, China would show signs of strength driven by robust construction activity while Europe and the U.S. struggled, facing more mature markets and relatively higher levels of foreign penetration. The U.S. continues to power ahead. There, mill lead times remain stubbornly protracted. […]
Category: Ferrous Metals
This Morning in Metals: US import prices up 0.3% in July
This morning in metals news: the pace of the rise of U.S. import prices slowed in July compared with the previous month; meanwhile, Nucor completed the acquisition of an insulated metal panels business; and, lastly, U.S. steel prices continue to move upward. Want an occasional email from MetalMiner that highlights new content with NO sales […]
Stainless MMI: Strong stainless demand to continue into 2022
The Stainless Monthly Metals Index (MMI) increased by 8.2% for this month’s reading. Stop obsessing about the actual forecasted nickel price — it’s more important to spot the trend. Outokumpu demand outlook Stainless steel producer Outokumpu released its half-year report, reporting that their sales increased by 16.8% for the first half of 2021 compared to […]
Raw Steels MMI: Steel demand on the rise
The Raw Steels Monthly Metals Index (MMI) rose by 7.8% as U.S. and Chinese steel prices continued their rally. Volatility is the name of the game. Do you have a steel buying strategy that can handle the ups and downs? Executive order on zero emissions, electric vehicles On Thursday, Aug. 5, President Joe Biden’s office […]
Tata Steel Europe mulls reline of blast furnaces at Netherlands plant
Tata Steel Europe is eyeing a refractory reline of one of the two blast furnaces at its IJmuiden works (Tata Steel Netherlands) in 2022, a source close to the company told MetalMiner. He declined to say either which of IJmuiden’s two furnaces – BF 6 or BF 7 – would undergo a refractory reline or […]
This Morning in Metals: Steel capacity utilization dips to 84.8%
This morning in metals news: the U.S. steel capacity utilization rate dipped to 84.8% for the week ending Aug. 7; BHP and the labor union representing workers at the Escondida mine reportedly extended contract talks by a day; and, lastly, nonfarm labor productivity rose by 2.3% in Q2 2021. Cut-to-length adders. Width and gauge adders. […]
Salzgitter-Flachstahl and Anglo American to cooperate on decarbonizing steel operations
German flats producer Salzgitter-Flachstahl, part of the Salzgitter group, and Anglo American have signed a memorandum of understanding (MoU) to cooperate on decarbonizing steel production, the London-headquartered company announced. The work will include methods to reduce carbon emissions by researching iron ore pellets and lump ores that would be suitable for use in direct reduction […]
This Morning in Metals: Rio Tinto, Komatsu collaborate on zero-emission mining haulage solutions
This morning in metals news: Rio Tinto announced it is working with Komatsu to develop zero-emission mining haulage solutions; meanwhile, Norsk Hydro announced new investments in North America; and, lastly, U.S. steel prices continue to rise, although the pace of gains has slowed somewhat. You want more MetalMiner on your terms. Sign up for weekly […]
China aims to further reduce steel output
The world’s largest steel producer and exporter, China, is actively contemplating adding more curbs to halt environment pollution which, most likely, will reduce its steel output and dampen exports. That’s good news for some of China’s neighbors steel-producing rivals, India and Japan. Stop obsessing about the actual forecasted steel price. It’s more important to spot […]
This Morning in Metals: Steel capacity utilization reaches 85.0%
This morning in metals news: U.S. steel capacity utilization reached 85.0% for the week ending July 31; meanwhile, U.S. energy intensity has dropped by about half since 1983; and, lastly, compensation costs for U.S. civilian workers rose by 0.7% from March to June. You want more MetalMiner on your terms. Sign up for weekly email […]