U.S. steel prices continued their decline this month alongside other steel markets. Hot rolled coil, cold rolled coil, and hot dipped galvanized prices all dropped beneath their early March bottoms. HRC prices, in particular, continue to close in on the $1,000/st mark, while plate prices saw their second consecutive month-over-month decline.The Raw Steels Monthly Metals […]
Category: Global Trade
Plate and HRC Steel Production Strained as Factories Shut Down
Metinvest, the Ukrainian steel production and mining group, recently began the process of restarting several of their Italian flats rolling mills. The factories had been offline for scheduled maintenance throughout May. And with global supplies strained, both Metinvest and the market are welcoming the much-needed additional steel production. Metinvest’s plate and hot rolled coil mill […]
Rare Earths MMI – US Breaking Away From Chinese Rare Earth Elements Supply
The Rare Earths MMI (Monthly MetalMiner Index) declined more sharply in July than in June. Compared to last month’s drop of 0.64%, July’s Rare Earths index dropped a total of 3.80%. Meanwhile, both the US and Europe are frantically searching for new sources of rare earth elements. Online Influence Group Causes Rare Earth Elements Uproar […]
Automotive MMI: Industrial Metal Supply Woes, EV Demand Grows
The Automotive MMI (Monthly Metals Index) experienced another decline from June to July. After a -6.53 drop last month, the 30-day price change jumped to -7.77%. As with the previous months, the automotive industrial metal marketplace has been plagued by problems. Curiously enough, it’s supply – not demand – that can’t make any headway towards […]
Vladimir Potanin Sanctioned by the UK and Nickel Price Impact
The UK government has added Vladimir Potanin, Norilsk Nickel’s president and chairman of the management board, to its list of sanctioned individuals. The LME nickel price remains in question. A June 29 update notification from HM Treasury’s Office of Financial Sanctions Implementation (OFSI) noted Potanin’s addition. The stated reason was that he would benefit from […]
International Commodities Market Fluctuates, Global Slowdown Impending
Mexico’s steel metal market recently saw a slowdown on metal prices, leading experts to believe that Mexico’s industrial metal market may soon turn bearish. Flat steel prices, along with long steel prices, have been dropping over the past several weeks. In fact, Mexico’s steel prices have been in steady decline since April. However, in mid-May, […]
UK Proposing Extension of Protectionist Steel Measures
In desperate times, politicians turn to increasingly desperate policies to prop up support. This remains the case for British steel. Recently, the UK’s Boris Johnson has been dodging accusations that he repeatedly lied to parliament. This, combined with his seeming inability to admit his failings, has pushed political turmoil in the country to a fever […]
Estimating Stainless Steel Costs Becoming More Complicated
Last Month, MetalMiner reported that stainless steel cost had been holding strong amid high demand and increased production. However, we did identify some cracks in what might otherwise look like a solid recovery. As we transition from Q2 to Q3, some of those cracks have grown significantly. Low Demand in China Affecting Stainless Steel Cost […]
British Steel Begins Construction of New Billet Caster at Scunthorpe
New Steel Billet Caster in the Works Longs producer British Steel has begun constructing a billet casting machine at its Scunthorpe works. It will be the second such machine built at the site, which lies in England’s East Midlands region.On June 15th, the company said that the continuous caster should come on stream in late 2022. Once […]
Rare Earths MMI: US and China Feud Over Rare Earth Prices
Over the past month in, the Rare Earths MMI (Metal Miner Index) slightly dropped by 0.64%.Over the past few decades, the US-China relationship has evolved into more of a rivalry than anything else. This has left the United States eager to decouple from China on several critical issues. One such issue is the supply of […]
