It’s déjà vu for China’s copper smelters. But how will it affect the global price of copper? The shortfall China faced in mid-2024 following the limited availability of copper ore in June led the country to significantly increase its imports of copper scrap as an alternative raw material. In fact, in the first five months […]
Category: Imports
Trump’s Return: Will Tariffs and Green Tech Define the Future of HRC Prices?
Big changes seem to be coming for the steel industry in Europe and the U.S. The European Commission, the executive arm of the EU, recently put forth a masterplan for a new industrial strategy in the 27-member bloc. Mainly the work of former Italian Prime Minister Mario Draghi, who now serves as special adviser to […]
Surging Exports and Stimulus Gains: Is China’s Steel Recovery Sustainable?
Are we seeing the first offshoots of a recovery in China’s steel industry? Some media outlets report that Chinese steel output turned positive for the first time in four months. This comes in the wake of the government’s efforts to restart the domestic economy, coupled with an improvement in demand for steel. In late September, […]
Automotive MMI: Automotive Industry Could Face Headwinds from Germany and Incoming Tariffs
The November Automotive MMI (Monthly Metals Index) found slightly more upward momentum than the prior month. While the index remained sideways, price action rose by 2.33%. That said, the US automotive market could witness headwinds from a combination of factors. First, Donald Trump`s win in the US election could mean incoming tariffs that will impact […]
EU Cracks Down on Anti-Dumping: Probe Into Imports from Asia and North Africa
The European Commission (EC) has begun to register hot rolled coil imports from several countries. The EU’s executive arm said the imports are the subject of an anti-dumping investigation for April 1, 2023, to March 31. The registrations concern imports of the flat rolled product from Egypt, Vietnam, Japan and India, the EU Official Journal […]
China’s Reports Record Iron Ore Imports Despite Steel Slump. What’s Behind This?
A familiar story is playing out in China this October, and it could have ramifications for the global iron ore price. Despite several rounds of economic stimuli not having the desired effect and the consumption of steel remaining at record lows, China is on the way to importing record volumes of iron ore this month. […]
Stainless MMI: Stainless Mills Struggle With Oversupply
Overall, the Stainless Monthly Metals Index (MMI) fell 0.75% from September to October. Nickel prices moved sideways with a slight upside bias throughout September. In total, prices rose 1.64% month over month, which offered support to the 304 stainless surcharge. Stainless Entered the Month Heavily Oversupplied The stainless market opened Q4 with little optimism. Reports […]
East Coast Logistics Paralysis: Union Strikes Set to Cripple Supply Chains
Maybe the port strike was inevitable. The unions are likely hedging their bets that a softer Democrat administration will fight in their corner now in the event a less cooperative Republican administration replaces them. They could be going for it while they feel they will get a better hearing from the top. So far, that […]
Antimony and Tungsten: Is China’s Export Crackdown a Response to Global Trade Pressures?
For many years, most of the world has looked at China with some degree of trepidation where critical minerals are concerned. The reason? China currently produces about 60% of the world’s all-important rare earth metals and is responsible for roughly 90% of the refined rare earths available on the market. Now, there’s something more to […]
Renewables MMI: China’s New Decarbonization Initiatives, What it Means for Steel and Aluminum Buyers
The Renewables MMI (Monthly Metals Index) finally witnessed a significant increase in price action for the first time in a year. In total, the index ascended by 9.97%, drawing fresh attention to renewable resources. The main culprit for the increase in price action was a significant rise in neodymium prices, likely in response to China’s […]
