Category: Ferrous Metals

Automotive MMI: Possible UAW Strike Could Seriously Impact Industry

Automotive MMI: Possible UAW Strike Could Seriously Impact Industry Mature worker controlling production line

Month-over-month, the Automotive MMI (Monthly Metals Index) slid downward by 3.42%. Steel prices within the index, like hot-dipped galvanized, trended sideways. However, copper and lead fell, introducing bearish pressure. Overall, the U.S. automotive industry witnessed some dynamic changes month-over-month. More robust demand for personal transport continues to emerge as supply chains regain strength. This will […]

Tata’s Port Talbot Steel Manufacturing Plant Faces Uncertain Future, UK Pledges £500 Million Lifeline

Tata’s Port Talbot Steel Manufacturing Plant Faces Uncertain Future, UK Pledges £500 Million Lifeline Tata Steel Stock Yard Limited in Faridabad NIT, Faridabad. Tata steel share price.

The British government and Tata Steel remain in discussion regarding the future of the Port Talbot steel manufacturing plant. Recently, the government said they may pledge a substantial £500 million (approx. U.S. $629 million) in financial support for the South Wales facility. This may be in addition to Tata Steel India’s planned investment of £700 million […]

Renewables/GOES MMI: Cobalt and Other Battery Metals Prices Rise Slightly

Renewables/GOES MMI: Cobalt and Other Battery Metals Prices Rise Slightly Battery recycling concept. Green energy, Background from battari

Since April, the Renewables MMI (Monthly Metals Index) has been in a tight sideways trend. Falling demand and slumping material production for battery metals in China, as well as an oversupply of materials continue to exert bearish pressure on the index. However, month-over-month, the index finally broke its sideways trend, rising by 4.75%. Chinese stimulus […]

Raw Steels MMI: HRC Steel Prices Resume Downtrend, Cliffs Looks to Acquire U.S. Steel

Raw Steels MMI: HRC Steel Prices Resume Downtrend, Cliffs Looks to Acquire U.S. Steel West Chester, Ohio, USA - December 28, 2021: Cliffs headquarters

The Raw Steels Monthly Metals Index (MMI) moved sideways, with steel prices experiencing a modest 1.17% decline from July to August. Flat-rolled steel prices seemingly found a bottom at the end of June before experiencing a modest increase. By mid-July, prices returned bearish, edging downward during the remainder of the month. HRC prices ultimately traded […]

Steel Industry Disruption: Cleveland-Cliffs’ Jaw-Dropping Bid to Acquire US Steel Makes Waves

Steel Industry Disruption: Cleveland-Cliffs’ Jaw-Dropping Bid to Acquire US Steel Makes Waves Screenshot-2023-08-14-at-11.23.00-AM

Late Sunday night, the Wall Street Journal reported that U.S. Steel had rejected an unsolicited offer from Cleveland-Cliffs for the company, valuing it at $7 billion. According to the report, Cliffs offered $17.50/share in cash plus 1,023 shares of Cliffs stock. U.S. Steel promptly rejected the offer and indicated that it would seek alternative proposals. […]

Construction MMI: Chinese Manufacturing Still Slumping, Impacting U.S. Construction

Construction MMI: Chinese Manufacturing Still Slumping, Impacting U.S. Construction excavator in construction site on sunset sky background

The Construction MMI (Monthly Metals Index) continues to experience pressure from both sides amid conflicting global construction news. For instance, U.S. scrap steel prices recently dropped due to more vehicles being manufactured (car manufacturing always produces ample scrap). However, Chinese steel product prices went up at the same time. Ultimately, metal markets witnessed more movement […]

Chinese Exports, Steel Prices Trigger Crisis for Indian Producers

Chinese Exports, Steel Prices Trigger Crisis for Indian Producers steel prices china and india

India may be the world’s second-largest steel producer, yet it continues to grapple with reliance on steel imports. In the last few months, China has emerged as a major steel exporter to India, leading to protests from India’s domestic sector. Indeed, India’s June 2023 steel imports rose by 5.9% month-on-month and 7.6% year-on-year. Alongside China, the country also […]

Ukraine’s Metinvest to Build Steel Plant in Italy

Ukraine’s Metinvest to Build Steel Plant in Italy xvsdbf

Ukraine’s Metinvest plans to build a new steel manufacturing facility in Italy. Indeed, an official for the group recently confirmed reports of plans to build a plant in either that country or Bulgaria. “Many people talked about the fact that we are considering the possibility of building a new plant in Italy. Indeed, this is the […]

Liberty Steel Victorious, Acquires Hungary’s Dunaferr for $61 Million

Liberty Steel Victorious, Acquires Hungary’s Dunaferr for $61 Million steel production in electric furnaces

Liberty Steel recently won a bid to take over Hungary’s Dunaferr. According to Hungary’s Ministry of Economic Development, a local court put the integrated flats producer into liquidation in late 2022. Liberty will pay €55 million ($61 million) for the Dunaferr plant, beating out India’s Vulcan Steel, Ukrainian group Metinvest, Swiss-based Trasteel Trading, and local […]

Raw Steels MMI: Bearish HRC, Steel Prices Flatten at Start of July

Raw Steels MMI: Bearish HRC, Steel Prices Flatten at Start of July AdobeStock_368869250

The Raw Steels Monthly Metals Index (MMI) moved sideways, with a modest 0.32% decline from June to July. Flat rolled steel prices appeared decidedly bearish throughout June. HRC prices saw the largest month-over-month decline, dropping nearly 16% before finding a bottom at the start of July. From there, HRC prices saw a modest $1/st increase […]

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