The Stainless Steel Monthly Metals Index (MMI) dropped again this month, by one point to 87. The drop follows last month’s three-point decline to 88 on the heels of August’s five-year high of 91. Need buying strategies for steel? Request your two-month free trial of MetalMiner’s Outlook LME nickel prices continued to move sideways overall, […]
Category: Ferrous Metals
This Morning in Metals: China’s Jingye Set to Buy British Steel
This morning in metals news, a Chinese firm is poised to take over the insolvent British Steel, Chinese iron ore futures were down Monday and speakers at a recent convention in Budapest weighed in on the stainless steel market. Jingye to Buy British Steel After talks with Turkey’s Ataer Holding fell apart, Chinese firm Jingye […]
Amid Plunging U.S. Steel Prices, Has ‘Steelmageddon’ Arrived?
Editor’s Note: This article has been corrected to reflect the most recent AISI capacity utilization rates and the price delta between the ROW and the US. Judging by the plunging share price of steel producers and the collapse in steel prices from $1,006 per ton just over two years ago to $557 now, it would […]
Week in Review: Freeport-McMoRan’s AI Play, LME Reforms and India’s RCEP Decision
Before we head into the weekend, let’s take a look back at the week that was and some of the metals coverage here on MetalMiner, including coverage of: Freeport-McMoRan’s use of artificial intelligence (AI), U.S. steel production, aluminum prices, U.S. automotive sales, construction spending and India’s decision to back away from the proposed RCEP trade […]
Steel, Other Industries Breathe Sigh of Relief Over India’s Retreat from RCEP Trade Pact
For a while, whether or not India would join the Regional Comprehensive Economic Partnership (RCEP) was touch and go. But eventually, much to the relief of domestic steel companies and those from other sectors, the Narendra Modi-led Indian government decided to sit out the controversial RCEP trade pact, which features the 10 members of the […]
This Morning in Metals: Chile’s October Copper Exports Fall 21%
This morning in metals news, No. 1 copper producer Chile saw its export levels drop 21% last month amid protests around the country, steel production in the U.S.’s Great Lakes region dropped last week and Shanghai Metals Markets forecast Chinese tin prices to rise back above $20,000 per ton by the end of the year. […]
U.S. Steel Sector’s Capacity Utilization Hits 81.6%; Steel Price Slide Continues
The U.S. steel sector notched a capacity utilization rate of 81.6% for the week ending Nov. 2, according to a recent American Iron and Steel Institute (AISI) report, as U.S. steel prices continue to plunge. Keep up to date on everything going on in the world of trade and tariffs via MetalMiner’s Trade Resource Center. […]
Week in Review: Deal Value Declines, Steel Production Drops, PSA Groupe to Merge with Fiat Chrysler
Before we head into the weekend, let’s take a look back at the week that was and some of the metals coverage here on MetalMiner, which included a PwC report on mining and metal deals, global steel production, lead and zinc forecasts, and an automotive merger of PSA Groupe and Fiat Chrysler. Keep up to […]
This Morning in Metals: Federal Reserve Cuts Interest Rates Again
This morning in metals news, the Federal Reserve has cut interest rates for the third time this year, AK Steel released its third-quarter financials and 16 steel industry associations praised the work of the Global Forum on Steel Excess Capacity. Keep up to date on everything going on in the world of trade and tariffs via MetalMiner’s […]
Global Steel Production Drops 0.3% in September
Global steel production contracted in September, according to the most recent monthly data from the World Steel Association. Keep up to date on everything going on in the world of trade and tariffs via MetalMiner’s Trade Resource Center. In September, steel production from the 64 countries reporting data to the World Steel Association totaled 151.5 […]