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 […]
Category: Imports
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 […]
Will China’s Latest Rare Earths Finds Set the Stage for Tech Domination?
Chinese geologists recently discovered two new minerals – oboniobite and scandio-fluoro-eckermannite – at Inner Mongolia’s Bayan Obo, the world’s largest rare earths mine. According to media reports, the discovery was a joint effort by the CAS Institute of Geology and Geophysics, Inner Mongolia Baotou Steel Union Co., Ltd., Baotou Research Institute of Rare Earths, and […]
Flood of Cheap Steel Imports Sets off Alarm Bells for India
It seems all the fears expressed by Indian steelmakers (and policymakers) are coming true. There just seems to be no stopping the flood of cheap steel imports into domestic markets, a problem that continues to cause great agony for Indian steel manufacturing leaders. India became a net importer of steel in the first quarter of […]
Aluminum MMI: Aluminum Prices Sideways Following U.S. Tariffs
Overall, the Aluminum Monthly Metals Index (MMI) retraced, with a 4.67% decline from June to July. Aluminum prices continued to decline before finding a bottom in mid-June at their lowest level since mid-April. Overall, this reflected a 6.86% drop from June to July. Prices began to move sideways in mid-June, although the bias remains to […]
Rare Earths MMI: What China Further Tightening Rare Earths Means for the U.S.
The Rare Earths MMI (Monthly Metals Index) took a steep dive in price action after a month of relative stability, dropping 14.4%. Terbium (both metal and oxide) yanked the index down tremendously, falling more than 16%. However, the rare earths index could yet experience some rebound from now until October, when China’s recent set of […]
Aluminum MMI: Aluminum Prices Drop As Investment Funds Pull Back
Overall, the Aluminum Monthly Metals Index (MMI) rose 4.09% from May to June. Aluminum prices outperformed all other base metals throughout May, with a 5.28% rise. Prices found a peak at their highest level since June 2022 on May 29 before losing all of May’s gains during the first three weeks of June. MetalMiner’s Annual […]
Raw Steels MMI: Steel Prices Decrease, Surge of Vietnamese Steel Imports Fuel Dumping Concerns
The Raw Steels Monthly Metals Index (MMI) remained sideways, with a modest 1.33% decline from May to June. As a whole, U.S. flat rolled steel prices appeared bearish, accelerating declines throughout June. HRC prices fell nearly 9%, their most significant month-over-month drop since February. CRC and HDG prices saw respective 6% declines, while plate prices […]
Costs Set to Rise for U.S. Importers
An unexpected surge in demand could complicate global import logistics, raising prices for U.S. importers. So far, global GDP growth has remained broadly positive this year, with growth rates consistently above expectations. Reports also indicate that manufacturing PMIs are at their highest level in almost two years, and a rising demand for shipping space seems […]
