Specialty and stainless longs producer Swiss Steel recently reached an agreement on a plan to reduce the workforce at its production site in Lucerne Canton, in central Switzerland. The move represents another blow to the European steel industry, which continues to struggle. The Lucerne-headquartered company now plans to reduce up to 50 positions at its […]
Category: Industry News
EU Steel Imports Soar 12% as Importers Race Against Anti-Dumping Duties
Steel imports into the European Union rose by an average of more than 12% year on year in the first ten days of Q1 2025. As of January 13, information from Germany-headquartered Metals Consulting International (MCI) indicated that total steel industry import volumes transacted under Tariff Rate Quotas totaled 2.2 million metric tons. This far […]
Construction MMI: Wildfire Impact on California Construction & Trump Anticipated Tariffs on Construction Materials from China
The Construction MMI (Monthly Metals Index) moved sideways, budging up by a slight 1.61%. Overall, 2024 ended with mild volatility. The construction industry didn’t have much reaction to the Fed’s Q4 round of interest rate drops, and the Fed has been hesitant to drop interest rates more significantly. Still, newfound volatility could come in 2025 […]
India Faces Steel Shock: Record Chinese Imports Threaten Domestic Producers
For India’s steel industry, what was feared is coming true. Initial government data shows that imports of finished steel from China hit a new record in the first eight months of the fiscal year ending March 2025. The news quickly sparked concerns among domestic steelmakers about the influx of cheaper Chinese shipments. India is the […]
ArcelorMittal Hunedoara Halts Steel Production Amid Economic Downturn
Difficult market conditions have prompted Romanian steel industry leader ArcelorMittal Hunedoara to reduce production until year’s end. According to a notice provided to the Bucharest Stock Exchange, the longs producer’s board of directors decided to reduce production from December 9-31 and pay 75% of salaries to employees impacted by the steps. The December 6 notice also […]
Automotive MMI: Stellantis’ CEO Steps Down: How it Will Impact the US Automotive Market
The Automotive MMI (Monthly Metals Index) remained sideways, only moving down 2.58%. There are currently no significant factors within the US automotive market causing much movement in price action, and automotive sector as a whole remains slow. Despite this, concern about incoming tariffs from the new Trump administration remains palpable. While Trump hasn’t threatened tariffs […]
Ukraine’s Iron Comeback: 96% Export Surge in a War-Torn Economy
Ukraine regained some of its mojo since war broke out with Russia almost two years ago, at least as iron ore is concerned. In fact, it is possible this will have significant repercussions for iron ore prices. According to media reports quoting official data from the State Customs Service, Ukraine has exported almost 28 million […]
Aluminum Prices Rise Amid Global Supply Shocks
In a sense, this is a story of aluminum, alumina and bauxite. Of late, aluminum prices have been shooting up, touching new highs at the London Metal Exchange (LME) and in other global exchanges. Much of this is because of a worldwide alumina shortage. In the last month or so, there’s been as much as […]
As Alumina Prices Spike 20%, Will Aluminum Smelters Survive the Cost Squeeze?
It seems aluminum prices could be in for a shock. With so much else happening in the news, aluminum buyers could easily overlook the recent Guinea export ban on bauxite to Emirates Global Aluminum. However, this move has triggered something close to panic in the alumina market, spiking prices by over 20% this month and […]
Freight Rate Declines Open Big Savings for Metal Buyers After ILA Strike
Importers bringing in products via the East and Gulf Coast ports breathed a huge sigh of relief after the quick resolution of the International Longshoremen’s Association (ILA) strike. Freight logistics concerns quickly dropped off the internal worry radar for many, who instead shifted their focus to competing priorities. However, ignoring freight would be a mistake, […]