Indian Prime Minister Narendra Modi recently visited the United States. During his stay, the two nations agreed to resolve six long-standing disputes at the World Trade Organization (WTO). U.S. steel news outlets watched this exchange particularly closely. This is because one of the subjects of debate was India’s imposition of retaliatory tariffs on U.S. products, […]
Category: Global Trade
Do High Russian Aluminum Volumes Call the LME’s Integrity into Question?
(Editor’s Note: This article has been edited and updated since it’s earlier publication to reflect the LME position on Russian origin materials) It’s no news that the London Metal Exchange (LME) has seen a big rise in Russian aluminum inventories in its warehouses. However, the surge in Russian metal remains a source of concern. After […]
EU Cross-Border Adjustment Mechanism Deals Blow to India’s Aluminum Industry
The EU’s implementation of the Cross-Border Adjustment Mechanism (CBAM) poses a significant challenge to India’s aluminum industry and the global price of aluminum. The move stems from the EU’s eagerness to tackle carbon and achieve net-zero emissions by 2050. However, as one of the leading low-cost aluminum producers, India faces a considerable setback due to […]
Democratic Republic of Congo Replaces Peru as the Second Largest Copper Exporter
There’s a new kid on the block in copper production. Media reports say the Democratic Republic of Congo (DRC) continues to put up a tough fight against Peru, the world’s second-biggest copper producer. If the latter does not square up, expects feel the DRC may end up taking its #2 title. Of course, such competition […]
Chinese Steel Prices Dropping Quickly
For the past year or two, steel analysts and experts have talked about how China’s market is now more open. Simultaneously, they discussed how domestic steel demand had surged due to increased infrastructure spending. The way they made it sound, low steel prices would soon become a thing of the past. This week, prices for […]
Is China’s Recovery Key to an Industrial Metal Rebound?
Some argue yes, and others argue no. Still, one fact remains certain: the West relies heavily on China when sourcing multiple metals. This includes everything from steel and copper to rare earths and lithium. Therefore, China’s slow recovery from its zero-COVID policies continues to take a massive toll on the global industrial metal trade, circulation, […]
Sliding Iron Ore Prices Show China’s Recovery is Still Dragging
The iron ore slump shows that the Chinese economy continues to struggle. Moreover, if things on the steel front do not improve quickly, demand will be low for the rest of the year. Indeed, the decline in iron ore prices, which recently hit a five-month low, has many analysts worried about the robustness of China’s […]
Stainless MMI: Stainless Remains a Buyer’s Market Amid Flat Global Demand Projections
The Stainless Monthly Metals Index (MMI) rose a modest 0.67% from April to May. Following increased volatility over the last few months, nickel prices began to slow down in terms of sharp breakouts or breakdowns. As a result, the larger sideways trend continued with no clear direction. Does your company have a stainless buying strategy […]
Renewables/GOES MMI: Summer to Test Power Grid, Global Hunt for Transformers Continues
The Renewables MMI (Monthly Metals Index) dropped again this month, this time by 6.01%. Month-over-month, every part of the index fell except for U.S. plate steel. Somewhat weaker steel demand impacted Korean and Chinese steel plate prices, causing them to drop. Meanwhile, cobalt and silicon continued to fall due to oversupply. That said, the long-term […]
Chinese Exports into Australia Suddenly Shoot Up
March proved a good month for Australia and China. New data shows Australia’s exports to China touched a new high in that month. Though the export surge affected most commodities, the most prominent were coal and iron ore. Political and economic observers studying the relationship between the two nations interpret this as new signs of […]