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 […]
Category: Imports
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 […]
Automotive MMI: How is China’s Excessive Steel Dumping Impacting the Automotive Industry?
The Automotive MMI (Monthly Metals Index) moved sideways month-on-month, only rising by 0.78%. Hot dipped galvanized steel prices remained sideways, which helped to hold the index firmly in range. However, China’s recent dumping of excess steel supply into international markets could cause downward price movement and bearish sentiment for the remainder of 2024. China’s Hot-Dipped […]
China’s Steel Dumping Finally Under Global Scrutiny
China’s direct dumping of steel in foreign markets and indirect dumping via proxy countries are finally under the global lens. According to the Malaysian Trade Ministry, the country recently launched an investigation into whether or not to impose anti-dumping duties on flat-rolled iron or non-alloy steel products imported from China as well as India, Japan […]
Automotive MMI: EV Demand Failing to Boost Overall Metal Demand
The Automotive MMI (Monthly Metals Index) maintained a steady sideways trend month-over-month, only moving down 2.53%. Overall steel demand remains tepid, which left little bullish sentiment for hot-dipped galvanized steel. Meanwhile, other metals prices, including copper, dropped after their speculative rallies cooled off in July. Overall, the components of the automotive index had little to […]
