Steel news outlets recently discovered that longs and semis producer British Steel recently acquired natural resources to sustain production at its Scunthorpe plant through 2025. “At the same time, we remain in active discussions with the government, working together to ensure British Steel continues to play a vital role in meeting the UK’s infrastructure needs,” the […]
Category: Ferrous Metals
Raw Steels MMI: Steel Prices Hold Sideways Following Bearish Q3
The Raw Steels Monthly Metals Index (MMI) remained sideways with a slight upside bias, showing a modest 1.44% increase from October to November. U.S. flat rolled steel prices mostly moved sideways during October. HRC prices edged lower, with a 1.29% decline, while CRC prices rose by a mere 0.95%. HDG prices skipped the sideways trend […]
Renewables MMI: Mixed Market Signals & Policy Changes Potentially Incoming
The Renewables MMI (Monthly Metals Index) held firmly sideways, shifting down a mere 0.06%. With the incoming Trump administration, it is possible the renewable energy sector could witness market shifts in the upcoming year. The Biden Administration prioritized the expansion of renewable energy systems, including more specific projects like electric vehicles. However, the Trump Administration […]
Tata Steel’s Massive EAF Deal with Tenova Signals End of Blast Furnace Era
Indian steel industry leader Tata Steel recently announced that it had signed a contract with an Italian company to install a new electric arc furnace at its Port Talbot facility in Wales. Tata stated in an October 18 announcement that Lombardy-headquartered Tenova is to supply one EAF with an annual capacity of 3 million metric […]
Europe’s Steel Price Surge: Will Buyers Bite?
Steelmakers in Western Europe are trying to push through increases for their hot rolled coil, though sources noted that it was hard to determine where steel prices were at present. Reports indicate that mills are now seeking about €600 ($650) EXW per metric ton, reflecting an increase from deals that were as low as €520-530 […]
China’s Economic Struggles: Why Cutting Rates Isn’t Enough to Boost Steel Demand
No matter the type or amount of stimuli put in by the Chinese Government, the country’s economy is just not getting back into revival mode. Meanwhile, China’s beleaguered steel industry continues to suffer. As part of efforts to boost economic growth, China cut down its benchmark lending rates after the apex bank lowered interest rates […]
Jindal Group Secures European Foothold with Acquisition of Vítkovice Steel
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 […]
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 […]