Tata Steel formally announced its plans to permanently blow down the two blast furnaces at its Port Talbot works. Tata’s plan is to replace them with an electric arc furnace. Steel manufacturing analysts say the move will cut the facility’s listed crude capacity 40%. The plant will blow down one blast furnace by mid-2024 and […]
Category: Industry News
Will Electric Cars Benefit or Threaten Europe’s Aluminum Industry?
Are electric cars going to benefit or threaten Europe’s aluminum industry? At first, it might appear a stupid question. However, it is also one that aluminum industry news sources continue to ask. The average European EV contained 283kgs of aluminum in 2022 compared to 169kgs for ICE vehicles. That is according to a study by […]
US Dollar Index Signals Bearish Trends While Precious Metals Shine Bright
This month, prices for stock indices have continued to see gains week over week as we roll into the new year. Last week’s dovish tone from the Fed fueled bets from investors on deeper and faster interest rate cuts going into 2024, which could continue to drive indices up. How will this impact the US […]
Global Precious Metals MMI: Some Precious Metals Prices Up, Index Stays Flat
The Global Precious Metals MMI (Monthly Metals Index) narrowly missed trading flat, only inching up a slight 0.17%. During the period from November 1 to December 1, precious metals prices, specifically gold and silver, surged significantly. For instance, the price of gold increased from $1,839.01 per troy ounce to $2,037.74, marking a substantial 10.81% uptick. […]
Ukraine’s Steel Industry Seeks Strategies for Export Revival Amidst Challenges
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 […]
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 […]