India’s Jindal Group has acquired Czech flats producer Vítkovice Steel. The Ostrava-based company released the information to steel news outlets on October 7, stating that Jindal will acquire a 100% stake in the company from its current owners, subject to clearance from anti-monopoly authorities. “Vítkovice Steel has been cooperating with Jindal Group for more than […]
Category: Ferrous Metals
ArcelorMittal’s New Ladle Furnace Powers Up for a 10% Carbon Cut
Steel industry leader ArcelorMittal recently commissioned a new, two-stand ladle furnace at its Fos-sur-Mer site in southern France. The Luxembourg-headquartered group stated that the furnace will cut carbon emissions from the flats producer by up to 10%. In an October 3 announcement, ArcelorMittal stated that each of the two stands on the new equipment can […]
ThyssenKrupp Steel Warns of Cuts on Poor Steel Market
German steel industry leader ThyssenKrupp Steel (TKS) recently warned that workers at the Duisburg-headquartered company face deep cuts due to a declining European steel market. On September 28, German media quoted Dennis Grimm, executive board spokesperson for TKS, as saying, “The current market situation has deteriorated again in recent months, and unfortunately, there is no […]
Automotive MMI: Dropping Steel Production Likely to Impact Automobile Manufacturers
The Automotive MMI (Monthly Metals Index) reduced its downward price action, moving sideways month-over-month by 0.43%. While the automotive industry dodged a bullet with the east coast port strike only lasting 3-4 days, the industry could still face more pressure due to lower steel output. Thanks to ongoing mill maintenance that began in August, hot-dipped […]
Raw Steels MMI: Steel Prices Edge Higher as Output Plummets
The Raw Steels Monthly Metals Index (MMI) moved sideways, with a mere 0.12% increase from September to October. U.S. flat rolled steel prices showed mixed direction during September. HRC prices traded up, CRC prices moved sideways and HDG prices traded down. However, CRC and HDG prices found at least a short-term bottom in September. By […]
Tata Steel’s High-Stakes Bet: £500M Government-Backed Plan to Modernize Port Talbot
After signing a grant funding agreement with the UK government, Tata Steel is eyeing a 2027 start-up of two new electric arc furnaces at its Port Talbot plant in Wales. Many in the steel industry consider the switchover to be a real test for Tata, the UK government, and “green” technology. “Tata Steel has already […]
Raw Steels MMI: Steel Prices Remain Sideways Ahead of Cuts
The Raw Steels Monthly Metals Index (MMI) moved sideways, with a 2.34% decline from August to September. U.S. steel prices trended either sideways or down over recent weeks. HRC and CRC prices appeared to find a bottom in August but did not show enough momentum to the upside to form an uptrend. Meanwhile, HDG prices […]
Renewables MMI: China’s New Decarbonization Initiatives, What it Means for Steel and Aluminum Buyers
The Renewables MMI (Monthly Metals Index) finally witnessed a significant increase in price action for the first time in a year. In total, the index ascended by 9.97%, drawing fresh attention to renewable resources. The main culprit for the increase in price action was a significant rise in neodymium prices, likely in response to China’s […]
9 Months of Limbo for Nippon Steel’s Buyout of U.S. Steel: Will it Happen, or Not?
Due to numerous obstacles, Nippon Steel’s $14.9 billion proposed acquisition of U.S. Steel has been on hold for nine months. The agreement is currently under investigation from all angles, with heavy resistance from steel industry labor unions and politicians. For manufacturers and procurement specialists involved in the metal supply chain, comprehending the details of this […]
Chinese Steel & Aluminum Buyers: Brace for Oncoming Crackdown!
It has been in the works for some time now. China is finally all set to add industrial metal sectors like steel and aluminum as well as cement to its national carbon trading market. According to media reports, the change will happen by the end of 2024. Essentially, this means domestic steel, aluminum and cement […]
