According to a Metinvest official, Ukraine is currently seeking ways to increase steel industry exports to boost revenues into the country’s coffers. “Steelmakers in the country would require financing for small- and medium-sized steel consumers, simplified customs procedures as well as expansion of the product range in order to facilitate exports” a December 5 announcement […]
Category: Industry News
Automotive MMI: Vehicle Sales Rise Along With Steel Prices, Particularly Hot-Dipped Galvanized Steel
The U.S. automotive industry witnessed several changes month-over-month. For one, the demand for new vehicles went up. However, steel prices, particularly hot-dipped galvanized steel, also rose along with demand. With the UAW strike over, analysts expect new vehicle manufacturing to pick up. However, new vehicle demand overall continues to battle elevated interest rates. Experts do […]
Graphite Gloom? China Exports Restricted Amid Brewing Mineral Trade War
According to new reports, China exports of graphite may be in for some major changes. Graphite, that unassuming mineral often relegated to the humble pencil, is actually a superstar in the high-stakes world of battery production. This dark horse of the mineral kingdom is crucial in all types of batteries, strutting its stuff across various […]
Construction MMI: Steel Prices Drop, High Energy Prices Could Impact Construction Output
Month-over-month, the Construction MMI (Monthly Metals Index) narrowly missed trading completely flat, ultimately moving sideways with just a 0.2% increase. Meanwhile, steel prices, specifically h-beam steel and steel rebar costs, either dropped or traded sideways, as did bar fuel surcharges. Energy have risen at an astounding rate since 2021 due to high inflation and geopolitical […]
Aluminum MMI: Aluminum Prices Lose Last Month’s Gains as U.S. and EU Discuss Tariffs
Overall, the Aluminum Monthly Metals Index (MMI) moved sideways, with a modest 1.92% rise from September to October. Indeed, a short-lived spike at the end of September saw aluminum prices rise over 6% month over month. However, prices began to retrace throughout October. They not only lost all of last month’s gains but returned to […]
Automotive MMI: Index Moves Down, UAW Strike Escalates
The United Auto Workers strike finally began to take its toll on the Automotive MMI (Monthly Metals Index) as well as month-over-month steel prices. Regarding price drops, hot-dipped galvanized managed to suffer the most. And with the strike continuing to escalate, negotiations stagnating, and more and more layoffs occurring nationwide, the index faces massive bearish […]
Copper MMI: Copper Prices Fall to Lowest Level Since November 2022 Amid Surplus Forecast
Although some moved sideways with more modest declines, all components within the overall index saw copper prices trade lower during the month. As a result, the Copper Monthly Metals Index (MMI) declined 2.34% from September to October. Subscribe to MetalMiner’s free weekly newsletter now and generate the most ROI possible within falling copper markets. Copper […]
Copper Price Roller Coaster a Wild Ride in 2023: From Highs to Lows and Back Again
It’s safe to say that the copper price index witnessed an interesting 2023 thus far. Indeed, the market’s been volatile, so there were more than the usual ups and downs. Mid-year, prices registered a major tumble because of the fumble in China’s economy. However, soon after, they began clawing back to a respectable level. Prices […]
Glencore Acquires 56.25% Stake in Mara Copper and Gold Project
Multinational commodity trader and mining group Glencore will acquire a 56.25% stake in the Mara copper and gold project in Argentina. The Swiss-headquartered group struck the Deal with Canada’s Pan America. In a boost for Glencore stock, this agreement gives them sole ownership of the site. The deal stipulates that Glencore will pay Pan American […]
Amid Declines, China Tops Global Steel Production Charts Again
China was the largest end-user of steel in 2022. According to the World Steel Association’s (Worldsteel) “2023 World Steel Report,” the country consumed 51.7% of the 1.78 million metric tons of finished products rolled last year. That percentage was unchanged from the previous year. At that time, China’s apparent steel consumption was 954 million metric […]
