This morning in metals news: the U.S. steel sector’s capacity utilization gained once again last month; iron ore futures made gains; and Tokyo Steel Manufacturing Co is keeping its prices steady. Want an occasional email from MetalMiner that highlights new content with NO sales ploys? U.S. steel capacity rises to 61.5% Continuing the recent theme, […]
Category: Ferrous Metals
Raw Steels MMI: Demand remains strong in China, lagging elsewhere
The Raw Steels Monthly Metals Index (MMI) increased 1.5% for this month’s MMI value. Learn when you should use a steel scrap cap collar contract versus a finished price index. Chinese demand on the rise In the past few months, Chinese HRC and CRC prices have increased over 20%. Meanwhile, their U.S. counterparts have followed […]
Stainless MMI: Surcharges rise for third straight month
The Stainless Monthly Metals Index (MMI) increased by 4.4% for this month’s MMI value. Surcharges increase for a third month While stainless demand continues to remain in line with U.S. flat-rolled producer supply, alloy surcharges are rising for the third month in a row. Why? The surcharge increases are again due to an increase in […]
This Morning in Metals: ArcelorMittal, Nippon Steel to build EAF at Alabama plant
This morning in metals news: ArcelorMittal announced plans to build an electric arc furnace at its joint venture steelmaking facility in Calvert, Alabama; the state of Alabama is kicking in some incentives for the project; and China churned out a record amount of crude steel in July. Stop obsessing about the actual forecasted steel price. […]
Week in Review: Trump targets Canadian aluminum; copper flattens; silver surges
This past week’s metals news covered everything from silver price movements to the copper price rise’s slowdown to the reimposition of tariffs on some Canadian aluminum. We also broke down President Donald Trump’s recent proclamation with respect to reimposing the Section 232 tariff on some Canadian aluminum. MetalMiner’s Stuart Burns delved into the concern expressed […]
This Morning in Metals: Pressure rises on Thyssenkrupp’s steel business
This morning in metals news: Thyssenkrupp’s steel unit is facing heavy losses this year; zinc prices have gained despite elevated stocks; and copper dipped Thursday. Thyssenkrupp faces major losses Thyssenkrupp, which last year left Germany’s DAX index, faces a potential 1 billion euros in losses this year, Reuters reported. Earlier this year, the German firm […]
Iron ore price proving resilient despite slow global recovery
Seaborne iron ore prices have remained stubbornly high. Chinese demand and a stronger-than-expected Chinese recovery from the first-quarter lockdowns are driving prices. Sign up today for Gunpowder, MetalMiner’s free, biweekly e-newsletter featuring news, analysis and more. Recovering demand Demand collapsed in Q1 during the lockdown but has recovered rapidly in Q2, originally for flat-rolled products […]
This Morning in Metals: Last call to sign up for the MetalMiner 2021 Forecasting Workshop
This morning in metals news: MetalMiner’s 2021 Forecasting Workshop is tomorrow; steel shipments from U.S. mills dropped 22% in June; and the European Steel Association outlined the impact of the COVID-19 pandemic on the European steel sector. Want MetalMiner directly in your inbox? Sign up for weekly, monthly or quarterly updates now. Last chance to […]
This Morning in Metals: U.S. steel capacity utilization reaches 60.4%
This morning in metals news: The U.S. steel sector posted another incremental increase in capacity utilization. Meanwhile, the Aluminum Association applauded a Department of Commerce decision regarding subsidies of imported aluminum sheet. Lastly, Alcoa criticized the Trump administration’s decision to reimpose the Section 232 aluminum tariff on imports from Canada. Steel sector capacity utilization rises […]
First, Canadian aluminum … could U.S. target steel next for tariffs?
Following President Donald Trump’s reimposition of 10% import tariffs on Canadian aluminum, the U.S.’s northern neighbor is now sweating the possible reimposition of steel tariffs. The U.S. imposed the Section 232 tariffs in 2018. Eventually, the U.S. lifted them following the successful agreement of the United States-Mexico-Canada Agreement (USMCA). “I hear that they’re going to […]
